LBA Wealth Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,277 shares of the energy producer’s stock after buying an additional 1,550 shares during the period. LBA Wealth Management LLC’s holdings in ConocoPhillips were worth $612,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the period. Alpha Windward LLC boosted its stake in ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock valued at $277,000 after buying an additional 52 shares during the period. Moloney Securities Asset Management LLC boosted its stake in ConocoPhillips by 0.7% in the first quarter. Moloney Securities Asset Management LLC now owns 9,401 shares of the energy producer’s stock valued at $469,000 after buying an additional 69 shares during the period. Finally, AT Bancorp boosted its stake in ConocoPhillips by 0.7% in the first quarter. AT Bancorp now owns 11,091 shares of the energy producer’s stock valued at $553,000 after buying an additional 80 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips (COP) traded up 0.26% during midday trading on Friday, hitting $43.11. The company had a trading volume of 7,310,360 shares. The company’s 50-day moving average price is $44.10 and its 200 day moving average price is $46.28. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company’s market capitalization is $52.46 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share 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 during the quarter, compared to analyst estimates of $6.74 billion. During the same period in the previous year, the business earned ($0.79) EPS. Equities research analysts predict that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.
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COP has been the topic of several recent research reports. Scotiabank set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. BidaskClub upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Bank of America Corporation lowered ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $67.00 in a report on Thursday, May 11th. 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 assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.18.
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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