DekaBank Deutsche Girozentrale boosted its position in shares of ConocoPhillips (NYSE:COP) by 21.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,491 shares of the energy producer’s stock after buying an additional 42,929 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in ConocoPhillips were worth $10,869,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its stake in ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after buying an additional 2,452,533 shares in the last quarter. FMR LLC boosted its stake in ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. Macquarie Group Ltd. boosted its stake in ConocoPhillips by 1.1% during the first quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after buying an additional 176,055 shares in the last quarter. Wellington Management Group LLP boosted its stake in ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in ConocoPhillips by 21.0% during 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 in the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on COP. Scotiabank reiterated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Citigroup Inc. decreased their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Hold” and a consensus target price of $54.15.
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ConocoPhillips (NYSE:COP) last posted 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 return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the firm earned ($0.79) earnings per share. On average, equities analysts anticipate that ConocoPhillips will post $0.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. ConocoPhillips’s payout ratio is -34.98%.
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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