Swiss National Bank lowered its position in shares of ConocoPhillips (NYSE:COP) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,489,199 shares of the energy producer’s stock after selling 71,500 shares during the quarter. Swiss National Bank’s holdings in ConocoPhillips were worth $246,412,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 1.9% during the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after purchasing an additional 1,694,618 shares in the last quarter. BlackRock Inc. boosted its stake in ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. Franklin Resources Inc. boosted its stake in ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after acquiring an additional 2,134,292 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in ConocoPhillips by 3.0% in the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after acquiring an additional 309,683 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 8,805,037 shares of the energy producer’s stock valued at $440,689,000 after acquiring an additional 407,471 shares in the last quarter. Hedge funds and other institutional investors own 70.49% of the company’s stock.
Several equities analysts have issued reports on COP shares. Barclays upped their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Scotiabank restated a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Wednesday, November 1st. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.53.
In other news, Director Charles E. Bunch purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company’s stock.
ConocoPhillips (NYSE COP) opened at $54.84 on Wednesday. The stock has a market cap of $64,328.89, a PE ratio of -109.68, a P/E/G ratio of 1.74 and a beta of 1.32. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $61.31. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. During the same period in the prior year, the company posted ($0.26) earnings per share. analysts predict that ConocoPhillips will post 2.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be issued a dividend of $0.285 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, February 9th. ConocoPhillips’s dividend payout ratio is currently -228.00%.
ConocoPhillips declared that its board has initiated a stock repurchase program on Wednesday, November 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the energy producer to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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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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