Wharton Business Group LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,890 shares of the energy producer’s stock after selling 2,360 shares during the quarter. Wharton Business Group LLC’s holdings in ConocoPhillips were worth $795,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised 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 acquiring an additional 6 shares in the last quarter. Cornerstone Advisors Inc. raised its position in ConocoPhillips by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after acquiring an additional 37 shares in the last quarter. WFG Advisors LP raised its position in ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after acquiring an additional 39 shares in the last quarter. Genesee Valley Trust Co. raised its position in ConocoPhillips by 0.6% in the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after acquiring an additional 45 shares in the last quarter. Finally, Girard Partners LTD. raised its position in ConocoPhillips by 0.6% in the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 69.62% of the company’s stock.
ConocoPhillips (NYSE COP) opened at $55.50 on Friday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $56.21. The firm has a market capitalization of $66,889.12, a price-to-earnings ratio of -30.00, a PEG ratio of 13.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
Several research firms have issued reports on COP. Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a research report on Friday. Royal Bank of Canada set a $61.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, December 13th. Finally, Credit Suisse Group began coverage on ConocoPhillips in a research report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $55.41.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.
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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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