HM Payson & Co. trimmed its holdings in ConocoPhillips (NYSE:COP) by 16.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 80,484 shares of the energy producer’s stock after selling 15,701 shares during the period. HM Payson & Co.’s holdings in ConocoPhillips were worth $4,417,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Lombard Odier Asset Management USA Corp purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $11,478,000. Toronto Dominion Bank raised its holdings in ConocoPhillips by 16.1% during the second 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 in the last quarter. Korea Investment CORP raised its holdings in ConocoPhillips by 32.8% during the third 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 in the last quarter. Tiemann Investment Advisors LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $206,000. Finally, Royal Bank of Scotland Group PLC purchased a new position in ConocoPhillips during the fourth quarter worth about $21,216,000. 71.14% of the stock is owned by institutional investors and hedge funds.
COP has been the subject of several analyst reports. Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Howard Weil cut shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a report on Friday, December 22nd. Zacks Investment Research cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Goldman Sachs raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $58.75.
ConocoPhillips stock opened at $56.29 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The firm has a market cap of $64,249.42, a PE ratio of 74.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same period in the prior year, the business posted ($0.26) earnings per share. equities analysts anticipate that ConocoPhillips will post 2.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders 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 positive change from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a dividend yield of 2.03%. ConocoPhillips’s dividend payout ratio is currently -228.00%.
ConocoPhillips announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the energy producer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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