Keybank National Association OH raised its position in ConocoPhillips (NYSE:COP) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,159,384 shares of the energy producer’s stock after buying an additional 780 shares during the period. Keybank National Association OH owned approximately 0.09% of ConocoPhillips worth $57,819,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of COP. Norges Bank acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $496,521,000. First Eagle Investment Management LLC boosted its position in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after buying an additional 1,744,860 shares during the period. Putnam Investments LLC boosted its position in ConocoPhillips by 74.5% in the fourth quarter. Putnam Investments LLC now owns 3,810,186 shares of the energy producer’s stock valued at $191,043,000 after buying an additional 1,626,806 shares during the period. State of New Jersey Common Pension Fund D boosted its position in ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock valued at $116,945,000 after buying an additional 1,000,000 shares during the period. Finally, First Manhattan Co. boosted its position in shares of ConocoPhillips by 71.7% in the first quarter. First Manhattan Co. now owns 2,299,139 shares of the energy producer’s stock valued at $99,943,000 after buying an additional 959,712 shares during the period. 68.84% of the stock is owned by institutional investors.
Shares of ConocoPhillips (NYSE COP) opened at 44.79 on Friday. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The stock’s 50 day moving average price is $44.17 and its 200 day moving average price is $46.50. The firm’s market capitalization is $54.51 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the firm posted ($0.79) EPS. Analysts expect that ConocoPhillips will post $0.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.37%. ConocoPhillips’s payout ratio is -34.98%.
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Several equities analysts recently issued reports on COP shares. BidaskClub cut ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Citigroup Inc. dropped their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Finally, Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.
ConocoPhillips Company Profile
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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