National Asset Management Inc. lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 14.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,634 shares of the energy producer’s stock after selling 3,785 shares during the period. National Asset Management Inc.’s holdings in ConocoPhillips were worth $1,129,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Advocacy Wealth Management Services LLC raised its holdings in shares of ConocoPhillips by 4.5% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares in the last quarter. Advantage Investment Management LLC raised its holdings in shares of ConocoPhillips by 65.3% during the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after buying an additional 958 shares in the last quarter. Westside Investment Management Inc. increased its holdings in ConocoPhillips by 468.4% in 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 in the last quarter. Massey Quick & Co. LLC acquired a new position in ConocoPhillips in the 1st quarter worth about $123,000. Finally, Crestwood Advisors Group LLC acquired a new position in ConocoPhillips in the 1st quarter worth about $131,000. 68.99% of the stock is owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded up 1.48% during mid-day trading on Friday, hitting $46.51. The company had a trading volume of 11,895,013 shares. The firm’s market capitalization is $56.60 billion. The firm has a 50-day moving average price of $44.48 and a 200-day moving average price of $45.66. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. Equities analysts forecast that ConocoPhillips will post $0.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, July 24th were given a $0.265 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. ConocoPhillips’s dividend payout ratio (DPR) is currently -34.98%.
A number of research firms have commented on COP. J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Zacks Investment Research upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $54.19.
ConocoPhillips Company Profile
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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