Sterling Investment Advisors Ltd. decreased its position in ConocoPhillips (NYSE:COP) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,806 shares of the energy producer’s stock after selling 1,270 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in ConocoPhillips were worth $241,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. lifted its holdings in shares of ConocoPhillips by 0.3% in 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 last quarter. Cornerstone Advisors Inc. lifted its holdings in shares of ConocoPhillips by 1.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after purchasing an additional 37 shares during the last quarter. WFG Advisors LP lifted its holdings in shares of ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after purchasing an additional 39 shares during the last quarter. Genesee Valley Trust Co. lifted its holdings in shares of ConocoPhillips by 0.6% in the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after purchasing an additional 45 shares during the last quarter. Finally, Girard Partners LTD. lifted its holdings in shares of ConocoPhillips by 0.6% in the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 69.62% of the company’s stock.
In other news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were bought 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 of the company’s stock, valued at $178,513.74. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the business earned ($0.66) EPS. equities research analysts expect that ConocoPhillips will post 0.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio is presently -57.30%.
Several analysts recently issued reports on COP shares. Scotiabank reissued a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a report on Friday, September 8th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Royal Bank of Canada raised their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price 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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