Toronto Dominion Bank lifted its position in ConocoPhillips (NYSE:COP) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 640,840 shares of the energy producer’s stock after buying an additional 15,651 shares during the quarter. Toronto Dominion Bank owned about 0.05% of ConocoPhillips worth $37,987,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock worth $709,009,000 after purchasing an additional 192,419 shares during the last quarter. Boston Partners lifted its holdings in ConocoPhillips by 0.4% in the 1st quarter. Boston Partners now owns 8,213,737 shares of the energy producer’s stock worth $486,992,000 after purchasing an additional 29,133 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in ConocoPhillips by 0.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,473,796 shares of the energy producer’s stock worth $383,832,000 after purchasing an additional 60,121 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in ConocoPhillips by 35.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,665,128 shares of the energy producer’s stock worth $310,957,000 after purchasing an additional 1,490,618 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in ConocoPhillips by 0.7% in the 4th quarter. Bessemer Group Inc. now owns 4,927,160 shares of the energy producer’s stock worth $270,452,000 after purchasing an additional 34,088 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips opened at $68.45 on Friday, MarketBeat.com reports. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $71.71. The company has a market cap of $80.87 billion, a PE ratio of 114.08, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.86 and a quick ratio of 1.71.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 26th. The energy producer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.22. The business had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.68 billion. ConocoPhillips had a positive return on equity of 6.69% and a negative net margin of 1.64%. During the same period in the prior year, the company posted ($0.02) earnings per share. equities analysts anticipate that ConocoPhillips will post 3.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 14th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Friday, May 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.67%. ConocoPhillips’s payout ratio is 190.00%.
ConocoPhillips declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the energy producer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Several equities research analysts recently weighed in on COP shares. Barclays boosted their target price on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Citigroup boosted their target price on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 target price for the company in a report on Wednesday, February 14th. Argus reduced their target price on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating for the company in a report on Friday, February 16th. Finally, UBS started coverage on ConocoPhillips in a report on Wednesday, March 7th. They issued a “buy” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.50.
In related news, SVP Janet Langford Kelly sold 49,496 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $71.00, for a total value of $3,514,216.00. Following the completion of the transaction, the senior vice president now directly owns 41,211 shares in the company, valued at $2,925,981. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 25,000 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the transaction, the senior vice president now owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The disclosure for this sale can be found here. Insiders sold 302,289 shares of company stock valued at $20,525,668 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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