Wealthsource Partners LLC lifted its position in ConocoPhillips (NYSE:COP) by 49.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,440 shares of the energy producer’s stock after purchasing an additional 2,135 shares during the quarter. Wealthsource Partners LLC’s holdings in ConocoPhillips were worth $283,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colony Group LLC purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $289,000. First Fiduciary Investment Counsel Inc. lifted its holdings in ConocoPhillips by 0.4% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 247,397 shares of the energy producer’s stock worth $10,876,000 after buying an additional 965 shares during the period. Verition Fund Management LLC lifted its holdings in ConocoPhillips by 32.9% in the 2nd quarter. Verition Fund Management LLC now owns 42,631 shares of the energy producer’s stock worth $1,874,000 after buying an additional 10,543 shares during the period. Piedmont Investment Advisors LLC lifted its holdings in ConocoPhillips by 0.6% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 264,826 shares of the energy producer’s stock worth $11,642,000 after buying an additional 1,618 shares during the period. Finally, Krilogy Financial LLC lifted its holdings in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares during the period. Hedge funds and other institutional investors own 69.89% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at $51.74 on Friday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market capitalization of $61,856.00, a P/E ratio of 2,587.00, a P/E/G ratio of 12.71 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.
Several equities research analysts have weighed in on COP shares. Jefferies Group set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Barclays increased their price objective on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average target price of $55.59.
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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