Pinnacle Financial Partners Inc. lifted its position in ConocoPhillips (NYSE:COP) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,038 shares of the energy producer’s stock after acquiring an additional 5,465 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in ConocoPhillips were worth $2,508,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. grew its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank grew its position in shares of ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares in the last quarter. Westside Investment Management Inc. grew its position in shares of ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares in the last quarter. Advantage Investment Management LLC grew its position in shares of ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after acquiring an additional 958 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its position in shares of ConocoPhillips by 20.5% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock worth $121,000 after acquiring an additional 470 shares in the last quarter. Institutional investors own 68.90% of the company’s stock.
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Several research analysts have recently commented on COP shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $52.00 target price on shares of ConocoPhillips in a research report on Thursday, June 22nd. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Scotiabank set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $54.15.
Shares of ConocoPhillips (NYSE COP) opened at 49.81 on Friday. The company’s market cap is $60.62 billion. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17. The firm’s 50-day moving average price is $47.04 and its 200 day moving average price is $46.06.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period in the previous year, the business earned ($0.79) EPS. On average, equities analysts predict that ConocoPhillips will post $0.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s payout ratio is currently -34.98%.
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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