Guyasuta Investment Advisors Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,055 shares of the energy producer’s stock after purchasing an additional 5,105 shares during the period. ConocoPhillips makes up approximately 1.4% of Guyasuta Investment Advisors Inc.’s holdings, making the stock its 28th largest holding. Guyasuta Investment Advisors Inc.’s holdings in ConocoPhillips were worth $11,872,000 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. State Street Corp raised its position in ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after purchasing an additional 2,452,533 shares in the last quarter. FMR LLC grew its stake in shares of ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of ConocoPhillips by 1.1% during the first quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after buying an additional 176,055 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ConocoPhillips by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after buying an additional 397,339 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares during the last quarter. Institutional investors and hedge funds own 68.88% of the company’s stock.
A number of research analysts have recently issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Friday. Wells Fargo & Company raised their price objective on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Barclays PLC raised their price objective on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Royal Bank Of Canada set a $58.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Wednesday. 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 assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.26.
Shares of ConocoPhillips (COP) opened at $52.96 on Friday. The stock has a market cap of $62.74 billion, a price-to-earnings ratio of 2,624.00, a P/E/G ratio of 14.85 and a beta of 1.28. The company has a quick ratio of 1.90, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping 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 company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the firm earned ($0.66) EPS. equities analysts predict that ConocoPhillips will post 0.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.00%. ConocoPhillips’s dividend payout ratio is currently -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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