Hoylecohen LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 64,426 shares of the energy producer’s stock, valued at approximately $3,536,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Boston Partners boosted its stake in shares of ConocoPhillips by 41.6% in the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock worth $449,252,000 after buying an additional 2,403,806 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in ConocoPhillips by 183.5% during the second quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares in the last quarter. Vanguard Group Inc. lifted its position in ConocoPhillips by 1.9% during the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after purchasing an additional 1,694,618 shares in the last quarter. Lazard Asset Management LLC lifted its position in ConocoPhillips by 35.7% during the fourth quarter. Lazard Asset Management LLC now owns 5,665,128 shares of the energy producer’s stock valued at $310,957,000 after purchasing an additional 1,490,618 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in ConocoPhillips by 66.5% during the second quarter. Lord Abbett & CO. LLC now owns 2,671,428 shares of the energy producer’s stock valued at $117,436,000 after purchasing an additional 1,067,428 shares in the last quarter. Institutional investors and hedge funds own 71.27% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at $54.93 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $63,462.45, a PE ratio of -109.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $61.31.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting the Zacks’ 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 2.81% and a negative net margin of 2.04%. During the same period last year, the firm earned ($0.26) earnings per share. equities research analysts predict that ConocoPhillips will post 2.87 EPS for the current year.
ConocoPhillips announced that its board has approved a share buyback plan on Thursday, February 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the energy producer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a dividend of $0.285 per share. The ex-dividend date 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 2.08%. ConocoPhillips’s dividend payout ratio (DPR) is currently -228.00%.
Several research firms recently weighed in on COP. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research report on Wednesday, January 10th. Credit Suisse Group began coverage on ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price on the stock. Barclays set a $71.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, March 4th. Piper Jaffray Companies reiterated a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a research report on Wednesday, January 24th. Finally, Macquarie began coverage on ConocoPhillips in a research report on Wednesday, January 17th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target 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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