Smithfield Trust Co. lessened its stake in ConocoPhillips (NYSE:COP) by 56.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,891 shares of the energy producer’s stock after selling 11,698 shares during the period. Smithfield Trust Co.’s holdings in ConocoPhillips were worth $445,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the period. First Command Bank increased its position in ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares during the period. Krilogy Financial LLC increased its position in ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the period. Westside Investment Management Inc. increased its position in ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares during the period. Finally, Massey Quick & Co. LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $123,000. Hedge funds and other institutional investors own 69.62% of the company’s stock.
In related news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the previous year, the company earned ($0.66) EPS. research analysts expect that ConocoPhillips will post 0.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s payout ratio is currently -57.30%.
COP has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Credit Suisse Group initiated coverage on ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price on the stock. Morgan Stanley boosted their target price on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a research report on Friday. Finally, Barclays boosted their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $55.41.
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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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