Grandfield & Dodd LLC Has $3 Million Holdings in ConocoPhillips (COP)

Grandfield & Dodd LLC lowered its position in ConocoPhillips (NYSE:COP) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,308 shares of the energy producer’s stock after selling 7,814 shares during the period. Grandfield & Dodd LLC’s holdings in ConocoPhillips were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Canal Capital Management LLC lifted its stake in ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after purchasing an additional 22 shares during the last quarter. Wendell David Associates Inc. lifted its stake in ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after purchasing an additional 26 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in ConocoPhillips by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after purchasing an additional 37 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in ConocoPhillips by 1.0% in the second 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. Finally, Founders Capital Management lifted its stake in ConocoPhillips by 0.5% in the second quarter. Founders Capital Management now owns 13,309 shares of the energy producer’s stock worth $585,000 after purchasing an additional 60 shares during the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.

COP has been the subject of several analyst reports. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research note on Thursday, June 15th. Citigroup Inc. decreased their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Cowen and Company set a $55.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $54.19.

ConocoPhillips (COP) opened at 49.08 on Monday. The firm has a 50-day moving average of $44.59 and a 200 day moving average of $45.61. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The stock’s market capitalization is $59.73 billion.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business earned ($0.79) EPS. On average, analysts predict that ConocoPhillips will post $0.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued 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 2.16%. ConocoPhillips’s payout ratio is -34.98%.

ILLEGAL ACTIVITY NOTICE: “Grandfield & Dodd LLC Has $3 Million Holdings in ConocoPhillips (COP)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/09/25/grandfield-dodd-llc-has-3-million-holdings-in-conocophillips-cop.html.

About ConocoPhillips

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply