PNC Financial Services Group Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782,710 shares of the energy producer’s stock after selling 81,239 shares during the period. PNC Financial Services Group Inc. owned approximately 0.15% of ConocoPhillips worth $78,368,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $4,582,000. Amalgamated Bank grew its position in shares of ConocoPhillips by 68.2% during the 2nd quarter. Amalgamated Bank now owns 129,463 shares of the energy producer’s stock valued at $5,691,000 after purchasing an additional 52,496 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of ConocoPhillips by 9.5% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 14,669 shares of the energy producer’s stock valued at $645,000 after purchasing an additional 1,269 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after acquiring an additional 6,197,896 shares during the last quarter. Finally, Comerica Securities Inc. lifted its holdings in shares of ConocoPhillips by 5.0% during the 2nd quarter. Comerica Securities Inc. now owns 64,916 shares of the energy producer’s stock worth $2,854,000 after acquiring an additional 3,088 shares during the last quarter. Hedge funds and other institutional investors own 70.08% of the company’s stock.
A number of analysts have recently issued reports on COP shares. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Citigroup Inc. dropped their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.37.
ConocoPhillips (COP) opened at $51.23 on Wednesday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The stock has a market cap of $62,848.27, a PE ratio of 2,628.50, a P/E/G ratio of 12.92 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the company earned ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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