Pitcairn Co. lifted its position in shares of ConocoPhillips (NYSE:COP) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,629 shares of the energy producer’s stock after purchasing an additional 357 shares during the quarter. Pitcairn Co.’s holdings in ConocoPhillips were worth $204,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Waldron LP grew its stake in shares of ConocoPhillips by 44.5% during the 1st quarter. Waldron LP now owns 7,072 shares of the energy producer’s stock worth $350,000 after purchasing an additional 2,178 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in ConocoPhillips by 2.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 409,788 shares of the energy producer’s stock valued at $20,436,000 after acquiring an additional 9,565 shares during the period. Tyers Asset Management LLC grew its stake in ConocoPhillips by 27.0% in the 1st quarter. Tyers Asset Management LLC now owns 12,864 shares of the energy producer’s stock valued at $641,000 after acquiring an additional 2,736 shares during the period. Eqis Capital Management Inc. grew its stake in ConocoPhillips by 2.3% in the 1st quarter. Eqis Capital Management Inc. now owns 7,400 shares of the energy producer’s stock valued at $369,000 after acquiring an additional 165 shares during the period. Finally, Nwam LLC grew its stake in ConocoPhillips by 3.9% in the 1st quarter. Nwam LLC now owns 8,089 shares of the energy producer’s stock valued at $403,000 after acquiring an additional 301 shares during the period. 68.90% of the stock is currently owned by institutional investors and hedge funds.
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COP has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, June 22nd. BidaskClub cut shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Sanford C. Bernstein cut shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $63.00 to $42.00 in a research note on Thursday, July 6th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $54.15.
ConocoPhillips (NYSE:COP) last posted 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. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned ($0.79) earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s payout ratio is currently -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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