Newman Dignan & Sheerar Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,624 shares of the energy producer’s stock after acquiring an additional 672 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in ConocoPhillips were worth $291,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. grew its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank grew its position in ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares during the last quarter. Advantage Investment Management LLC grew its position in ConocoPhillips by 65.3% during the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 958 shares during the last quarter. Westside Investment Management Inc. grew its position in ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Massey Quick & Co. LLC bought a new position in ConocoPhillips during the first quarter valued at approximately $123,000. Institutional investors and hedge funds own 68.88% of the company’s stock.
A number of research analysts have commented on the stock. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Thursday, August 24th. Wells Fargo & Company increased their price objective on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup Inc. dropped their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Jefferies Group LLC set a $59.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $54.98.
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ConocoPhillips (NYSE COP) opened at 51.21 on Monday. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $53.17. The company’s market cap is $62.32 billion. The firm has a 50-day moving average price of $48.89 and a 200-day moving average price of $46.20.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 period in the prior year, the business earned ($0.66) EPS. On average, equities research analysts forecast that ConocoPhillips will post $0.35 earnings per share for the current fiscal 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 $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is -57.30%.
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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