Retirement Systems of Alabama boosted its stake in ConocoPhillips (NYSE:COP) by 15.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,230,548 shares of the energy producer’s stock after acquiring an additional 162,731 shares during the quarter. Retirement Systems of Alabama owned 0.10% of ConocoPhillips worth $61,589,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC lifted its holdings in ConocoPhillips by 78.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock valued at $354,000 after purchasing an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. lifted its holdings in ConocoPhillips by 19.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after purchasing an additional 5,452 shares in the last quarter. Shell Asset Management Co. lifted its holdings in ConocoPhillips by 2.4% in the 2nd quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock valued at $8,883,000 after purchasing an additional 4,647 shares in the last quarter. Toronto Dominion Bank lifted its holdings in ConocoPhillips by 16.1% in the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock valued at $27,092,000 after purchasing an additional 85,538 shares in the last quarter. Finally, FMR LLC lifted its holdings in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. 69.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the company. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a report on Friday, December 22nd. Royal Bank of Canada set a $61.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, December 13th. Finally, Credit Suisse Group assumed coverage on ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $55.41.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.66) EPS. equities analysts predict that ConocoPhillips will post 0.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -53.27%.
In other news, Director Charles E. Bunch bought 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.82% of the company’s stock.
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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