Cypress Asset Management Inc. TX lowered its position in ConocoPhillips (NYSE:COP) by 22.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,955 shares of the energy producer’s stock after selling 3,541 shares during the period. Cypress Asset Management Inc. TX’s holdings in ConocoPhillips were worth $656,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in COP. Krilogy Financial LLC boosted its stake in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after buying an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC lifted its position in ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC lifted its position in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares in the last quarter. Lloyds Banking Group plc purchased a new position in ConocoPhillips during the second quarter valued at $127,000. Finally, TLP Group LLC purchased a new position in ConocoPhillips during the second quarter valued at $142,000. 70.93% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the transaction, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.
Shares of ConocoPhillips (NYSE:COP) traded up $0.11 during mid-day trading on Friday, hitting $54.65. The stock had a trading volume of 5,070,000 shares, compared to its average volume of 6,390,000. The firm has a market capitalization of $65,330.00, a P/E ratio of -39.04, a PEG ratio of 1.74 and a beta of 1.32. 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 has a 1-year low of $42.26 and a 1-year high of $61.31.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the prior year, the firm posted ($0.26) earnings per share. sell-side analysts forecast that ConocoPhillips will post 2.85 earnings per share for the current year.
ConocoPhillips announced that its board has approved a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the energy producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.09%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 9th. ConocoPhillips’s dividend payout ratio is presently -81.43%.
A number of equities research analysts have commented on the company. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Scotiabank reissued a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Wednesday, November 1st. Royal Bank of Canada set a $58.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Monday, October 30th. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, December 13th. Finally, Cowen set a $70.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.53.
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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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