Hyman Charles D cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,943 shares of the energy producer’s stock after selling 4,600 shares during the period. Hyman Charles D’s holdings in ConocoPhillips were worth $9,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of COP. Freestone Capital Holdings LLC raised its holdings in shares of ConocoPhillips by 78.7% in the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares during the period. Point View Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares during the period. Toronto Dominion Bank raised its holdings in shares of ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares during the period. Korea Investment CORP raised its holdings in shares of ConocoPhillips by 32.8% in the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in shares of ConocoPhillips in the second quarter worth approximately $26,376,000. Institutional investors and hedge funds own 70.49% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at $54.65 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $64,328.89, a price-to-earnings ratio of 74.86, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $61.31.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. During the same quarter last year, the firm earned ($0.26) EPS. equities research analysts forecast that ConocoPhillips will post 2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a $0.285 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is presently -228.00%.
ConocoPhillips announced that its board has authorized a share buyback program on Wednesday, November 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the energy producer to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
COP has been the topic of several recent analyst reports. Royal Bank of Canada increased their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley increased their price target on ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Cowen set a $70.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group assumed coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a research note on Friday, December 22nd. One research 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. The stock has a consensus rating of “Buy” and a consensus price target of $58.53.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.
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).
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.