ConocoPhillips (COP) Plans Quarterly Dividend of $0.25
ConocoPhillips (NYSE:COP) declared a quarterly dividend on Thursday, October 6th. Shareholders of record on Monday, October 17th will be paid a dividend of 0.25 per share on Thursday, December 1st. This represents a $1.00 annualized dividend and a yield of 2.25%.
Shares of ConocoPhillips (NYSE:COP) traded up 1.39% during trading on Thursday, reaching $44.52. The company’s stock had a trading volume of 8,221,289 shares. The firm’s 50-day moving average is $41.74 and its 200 day moving average is $42.70. The company’s market cap is $55.14 billion. ConocoPhillips has a 52-week low of $31.05 and a 52-week high of $57.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by $0.18. The business earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. ConocoPhillips’s quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities research analysts predict that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
In other news, VP Ellen Desanctis purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now owns 22,010 shares of the company’s stock, valued at $891,405. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 6,500 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the purchase, the director now directly owns 19,000 shares in the company, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinkerton Retirement Specialists LLC boosted its position in shares of ConocoPhillips by 5,507.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,411 shares of the company’s stock worth $105,000 after buying an additional 2,368 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in shares of ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock worth $153,000 after buying an additional 79 shares during the last quarter. MCF Advisors LLC boosted its position in shares of ConocoPhillips by 7.1% in the second quarter. MCF Advisors LLC now owns 4,138 shares of the company’s stock worth $180,000 after buying an additional 273 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of ConocoPhillips by 8.3% in the second quarter. Westwood Holdings Group Inc. now owns 5,470 shares of the company’s stock worth $238,000 after buying an additional 418 shares during the last quarter. Finally, Diversified Investment Strategies LLC boosted its position in shares of ConocoPhillips by 9.4% in the second quarter. Diversified Investment Strategies LLC now owns 5,596 shares of the company’s stock worth $244,000 after buying an additional 480 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.
Several research firms have issued reports on COP. Deutsche Bank AG restated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research note on Thursday, June 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, July 13th. Jefferies Group restated a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. Nomura restated a “hold” rating and issued a $49.00 price objective on shares of ConocoPhillips in a research note on Monday. Finally, Vetr lowered ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 price objective on the stock. in a research note on Thursday, September 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.10.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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