Quantitative Systematic Strategies LLC lifted its position in ConocoPhillips (NYSE:COP) by 89.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,164 shares of the energy producer’s stock after acquiring an additional 9,046 shares during the period. Quantitative Systematic Strategies LLC’s holdings in ConocoPhillips were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of COP. Prudential Financial Inc. boosted its position in shares of ConocoPhillips by 1.9% during the 1st quarter. Prudential Financial Inc. now owns 5,143,375 shares of the energy producer’s stock worth $256,500,000 after acquiring an additional 93,430 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of ConocoPhillips by 19.5% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,428,758 shares of the energy producer’s stock valued at $71,252,000 after purchasing an additional 232,700 shares during the period. Stifel Financial Corp raised its stake in ConocoPhillips by 1.8% during the 1st quarter. Stifel Financial Corp now owns 721,784 shares of the energy producer’s stock valued at $35,857,000 after acquiring an additional 12,423 shares during the last quarter. Berkeley Capital Partners LLC raised its stake in ConocoPhillips by 1.8% during the 1st quarter. Berkeley Capital Partners LLC now owns 7,293 shares of the energy producer’s stock valued at $364,000 after acquiring an additional 132 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in ConocoPhillips during the 1st quarter valued at approximately $2,359,000. 69.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Scotiabank reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Friday, September 29th. Barclays reiterated an “overweight” rating and set a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $55.59.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the previous year, the firm posted ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
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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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