Investment Centers of America Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 29.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,582 shares of the energy producer’s stock after selling 13,043 shares during the period. Investment Centers of America Inc.’s holdings in ConocoPhillips were worth $1,337,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares in the last quarter. BlackRock Inc. lifted its position in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. FMR LLC lifted its position in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after acquiring an additional 3,982,002 shares in the last quarter. AJO LP lifted its position in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Finally, State Street Corp lifted its position in shares of ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after acquiring an additional 2,452,533 shares in the last quarter. Institutional investors own 70.08% of the company’s stock.
COP has been the topic of a number of research 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. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research report on Friday, November 3rd. Barclays PLC 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. Wells Fargo & Company boosted their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Scotiabank reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.37.
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ConocoPhillips (COP) opened at $52.57 on Tuesday. The company has a market capitalization of $63,350.39, a P/E ratio of 2,649.50, a PEG ratio of 13.72 and a beta of 1.28. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be paid a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.02%. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
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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