Fred Alger Management Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,673 shares of the energy producer’s stock after selling 3,423 shares during the period. Fred Alger Management Inc.’s holdings in ConocoPhillips were worth $1,574,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Toronto Dominion Bank lifted its position in shares of ConocoPhillips by 16.1% during the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after purchasing an additional 85,538 shares during the last quarter. Korea Investment CORP lifted its position in shares of ConocoPhillips by 32.8% during the 3rd quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after purchasing an additional 253,600 shares during the last quarter. Intact Investment Management Inc. lifted its position in shares of ConocoPhillips by 94.3% during the 3rd quarter. Intact Investment Management Inc. now owns 10,300 shares of the energy producer’s stock worth $515,000 after purchasing an additional 5,000 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of ConocoPhillips by 38.8% during the 3rd quarter. Johnson Financial Group Inc. now owns 24,924 shares of the energy producer’s stock worth $1,247,000 after purchasing an additional 6,972 shares during the last quarter. Finally, Royal Bank of Scotland Group PLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $21,216,000. Institutional investors and hedge funds own 71.27% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of ConocoPhillips in a research report on Wednesday, March 7th. They set a “buy” rating and a $60.00 price objective for the company. Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, March 4th. Argus decreased their price objective on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating for the company in a research report on Friday, February 16th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, February 14th. Finally, Citigroup lifted their price objective on shares of ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. 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 assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.75.
Shares of ConocoPhillips (NYSE COP) opened at $53.96 on Wednesday. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The firm has a market cap of $64,296.40, a price-to-earnings ratio of 74.99, a P/E/G ratio of 1.64 and a beta of 1.33. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the previous year, the company earned ($0.26) earnings per share. equities analysts predict that ConocoPhillips will post 2.87 EPS for the current year.
ConocoPhillips announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were given a $0.285 dividend. The ex-dividend date of this dividend was Friday, February 9th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 dividend on an annualized basis and a yield of 2.11%. ConocoPhillips’s payout ratio is -228.00%.
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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