Diversified Investment Strategies LLC held its position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,596 shares of the energy producer’s stock at the end of the 2nd quarter. Diversified Investment Strategies LLC’s holdings in ConocoPhillips were worth $246,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its position in 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 boosted its position in 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 boosted its position in 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. boosted its position in 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 position in ConocoPhillips in the first quarter worth about $123,000. 68.88% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE COP) opened at 51.21 on Monday. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $53.17. The firm has a 50-day moving average price of $48.89 and a 200-day moving average price of $46.20. The company’s market cap is $62.32 billion.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the firm earned ($0.66) earnings per share. On average, equities analysts expect that ConocoPhillips will post $0.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%. ConocoPhillips’s payout ratio is currently -57.30%.
Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays PLC raised their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank Of Canada reissued a “buy” rating and issued a $54.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reissued a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Finally, Morgan Stanley raised their target price on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.98.
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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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