LaFleur & Godfrey LLC cut its stake in ConocoPhillips (NYSE:COP) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,341 shares of the energy producer’s stock after selling 4,651 shares during the quarter. ConocoPhillips accounts for about 3.3% of LaFleur & Godfrey LLC’s portfolio, making the stock its 8th biggest position. LaFleur & Godfrey LLC’s holdings in ConocoPhillips were worth $12,368,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. raised its stake in shares of ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the last quarter. First Command Bank raised its stake in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares during the last quarter. Advantage Investment Management LLC raised its stake in shares of ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after purchasing an additional 958 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Massey Quick & Co. LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth approximately $123,000. 68.90% of the stock is owned by hedge funds and other institutional investors.
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Several analysts have recently commented on COP shares. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. ConocoPhillips has a consensus rating of “Hold” and a consensus target price of $54.15.
ConocoPhillips (NYSE:COP) last announced its earnings results 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. The business had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the previous year, the business earned ($0.79) EPS. Equities analysts predict that ConocoPhillips will post $0.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 annualized dividend and a dividend yield of 2.14%. ConocoPhillips’s dividend payout ratio (DPR) 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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