Salem Investment Counselors Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,890 shares of the energy producer’s stock after acquiring an additional 1,098 shares during the quarter. Salem Investment Counselors Inc.’s holdings in ConocoPhillips were worth $1,314,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in COP. Financial Management Professionals Inc. increased its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares during the period. First Command Bank increased its stake in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the period. Westside Investment Management Inc. increased its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the period. Reilly Financial Advisors LLC increased its stake in ConocoPhillips by 20.5% in the second quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 470 shares during the period. Finally, Massey Quick & Co. LLC acquired a new position in ConocoPhillips in the first quarter valued at $123,000. Hedge funds and other institutional investors own 69.83% of the company’s stock.
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A number of research analysts have commented on the stock. Jefferies Group LLC set a $59.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Barclays PLC restated an “overweight” rating and issued a $55.00 price objective (up from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $58.00 in a report on Friday, July 28th. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $55.37.
Shares of ConocoPhillips (COP) opened at $50.22 on Friday. The company has a market cap of $60,038.82, a PE ratio of 2,511.00, a P/E/G ratio of 12.34 and a beta of 1.28. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.22. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend 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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