Equity Investment Corp decreased its stake in ConocoPhillips (NYSE:COP) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,812,985 shares of the energy producer’s stock after selling 75,187 shares during the period. ConocoPhillips comprises about 3.3% of Equity Investment Corp’s holdings, making the stock its 10th largest holding. Equity Investment Corp owned about 0.15% of ConocoPhillips worth $99,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. WFG Advisors LP lifted its position in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares in the last quarter. First City Capital Management Inc. raised its position in ConocoPhillips by 1.4% in the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after acquiring an additional 75 shares during the period. Waters Parkerson & CO. LLC raised its position in ConocoPhillips by 1.0% in the second quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock worth $529,000 after acquiring an additional 125 shares during the period. Laurel Wealth Advisors Inc. increased its stake in shares of ConocoPhillips by 1.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 8,734 shares of the energy producer’s stock worth $383,000 after purchasing an additional 130 shares in the last quarter. Finally, Courier Capital LLC increased its stake in shares of ConocoPhillips by 2.7% in the second quarter. Courier Capital LLC now owns 8,227 shares of the energy producer’s stock worth $362,000 after purchasing an additional 220 shares in the last quarter. 71.27% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) remained flat at $$53.96 during mid-day trading on Wednesday. 4,055,242 shares of the stock traded hands, compared to its average volume of 5,911,556. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a market capitalization of $63,380.00, a P/E ratio of -39.68, a P/E/G ratio of 1.64 and a beta of 1.33.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The business had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. sell-side analysts forecast that ConocoPhillips will post 2.87 EPS for the current fiscal year.
ConocoPhillips announced that its board has approved a share buyback program on Thursday, February 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the energy producer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were issued a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips’s payout ratio is -83.82%.
COP has been the subject of several recent analyst reports. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a report on Friday, December 22nd. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $58.75.
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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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