Fiduciary Group LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,142 shares of the energy producer’s stock after selling 244 shares during the quarter. Fiduciary Group LLC’s holdings in ConocoPhillips were worth $802,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Greenline Partners LLC grew its holdings in ConocoPhillips by 5.5% in the 2nd quarter. Greenline Partners LLC now owns 133,209 shares of the energy producer’s stock worth $8,126,000 after buying an additional 6,991 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in ConocoPhillips by 3.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 156,618 shares of the energy producer’s stock worth $9,553,000 after buying an additional 5,247 shares in the last quarter. FLC Capital Advisors bought a new position in ConocoPhillips in the 2nd quarter worth approximately $210,000. Buckingham Asset Management LLC grew its holdings in ConocoPhillips by 27.0% in the 2nd quarter. Buckingham Asset Management LLC now owns 12,911 shares of the energy producer’s stock worth $788,000 after buying an additional 2,745 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in ConocoPhillips by 66.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 68,330 shares of the energy producer’s stock worth $4,168,000 after buying an additional 27,279 shares in the last quarter. 72.20% of the stock is owned by institutional investors.
COP has been the subject of a number of recent analyst reports. Mizuho raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $80.00 in a report on Wednesday, June 26th. Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, July 17th. Barclays initiated coverage on ConocoPhillips in a report on Monday. They issued an “overweight” rating and a $79.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley decreased their price objective on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $76.85.
COP traded up $1.41 during trading on Monday, reaching $52.88. The stock had a trading volume of 1,080,012 shares, compared to its average volume of 6,316,891. The firm has a market capitalization of $56.52 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.33 and a beta of 0.99. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. ConocoPhillips has a 1-year low of $50.59 and a 1-year high of $80.24. The stock has a 50 day moving average of $58.35 and a two-hundred day moving average of $63.02.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, research analysts forecast that ConocoPhillips will post 4.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be given a $0.305 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a yield of 2.31%. ConocoPhillips’s dividend payout ratio (DPR) is 26.93%.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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