Deprince Race & Zollo Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,008,216 shares of the energy producer’s stock after acquiring an additional 56,503 shares during the period. ConocoPhillips accounts for about 0.9% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 22nd largest position. Deprince Race & Zollo Inc. owned about 0.08% of ConocoPhillips worth $44,321,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. raised its stake in ConocoPhillips by 0.3% during 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 during the period. Canal Capital Management LLC raised its stake in ConocoPhillips by 0.3% during the 2nd quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after acquiring an additional 22 shares during the period. Wendell David Associates Inc. raised its stake in ConocoPhillips by 0.3% during the 2nd quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after acquiring an additional 26 shares during the period. Sheets Smith Wealth Management raised its stake in ConocoPhillips by 0.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after acquiring an additional 37 shares during the period. Finally, Cornerstone Advisors Inc. raised its stake in ConocoPhillips by 1.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after acquiring an additional 37 shares during the period. Institutional investors own 68.85% of the company’s stock.
Shares of ConocoPhillips (COP) opened at 49.40 on Monday. The company’s market capitalization is $60.12 billion. The company has a 50-day moving average price of $47.32 and a 200-day moving average price of $46.11. ConocoPhillips has a 12 month low of $40.37 and a 12 month high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations 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 prior year, the business posted ($0.79) EPS. On average, analysts forecast that ConocoPhillips will post $0.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
A number of research firms have commented on COP. Barclays PLC restated an “overweight” rating and set a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.15.
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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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