Gulf International Bank UK Ltd Buys 576 Shares of ConocoPhillips (NYSE:COP)

Gulf International Bank UK Ltd increased its position in ConocoPhillips (NYSE:COP) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 385,934 shares of the energy producer’s stock after buying an additional 576 shares during the period. Gulf International Bank UK Ltd’s holdings in ConocoPhillips were worth $16,965,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COP. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC boosted its stake in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. State Street Corp boosted its stake in shares of ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of 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 worth $501,966,000 after buying an additional 1,744,860 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of 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 worth $116,945,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.

Shares of ConocoPhillips (NYSE COP) opened at 43.11 on Friday. The stock’s market capitalization is $52.46 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s 50-day moving average price is $44.10 and its 200-day moving average price is $46.28.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the prior year, the firm posted ($0.79) earnings per share. On average, equities research analysts forecast that ConocoPhillips will post $0.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.

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A number of research firms have recently weighed in on COP. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Citigroup Inc. dropped their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 16th. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $63.00 to $42.00 in a research note on Thursday, July 6th. Finally, Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $55.18.

About ConocoPhillips

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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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