Evercore Wealth Management LLC reduced its position in ConocoPhillips (NYSE:COP) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,804 shares of the energy producer’s stock after selling 6,197 shares during the quarter. Evercore Wealth Management LLC’s holdings in ConocoPhillips were worth $1,926,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after acquiring an additional 1,694,618 shares in the last quarter. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 7.8% during the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after purchasing an additional 6,197,896 shares during the last quarter. State Street Corp raised its holdings in shares of ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after purchasing an additional 2,452,533 shares during the last quarter. FMR LLC increased its holdings in 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 buying an additional 3,982,002 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in ConocoPhillips by 1.1% in the first quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after buying an additional 176,055 shares in the last quarter. 69.87% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on COP shares. Jefferies Group set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Barclays boosted their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $55.59.
Shares of ConocoPhillips (NYSE COP) traded down $0.85 on Wednesday, hitting $50.38. 4,437,278 shares of the stock were exchanged, compared to its average volume of 7,129,372. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22. The stock has a market cap of $61,318.02, a P/E ratio of 2,564.50, a PEG ratio of 12.60 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm posted ($0.66) EPS. equities analysts forecast that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were paid a dividend of $0.265 per share. The ex-dividend date was Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio is currently -57.30%.
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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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