Raymond James Trust N.A. Decreases Stake in ConocoPhillips (COP)
Raymond James Trust N.A. lowered its stake in ConocoPhillips (NYSE:COP) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,329 shares of the company’s stock after selling 306 shares during the period. Raymond James Trust N.A.’s holdings in ConocoPhillips were worth $1,623,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in shares of ConocoPhillips by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 457,168 shares of the company’s stock valued at $19,933,000 after buying an additional 7,636 shares during the last quarter. Guinness Asset Management Ltd acquired a new stake in shares of ConocoPhillips during the second quarter valued at approximately $10,726,000. Strs Ohio boosted its stake in shares of ConocoPhillips by 1.1% in the second quarter. Strs Ohio now owns 1,004,958 shares of the company’s stock valued at $43,816,000 after buying an additional 10,603 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of ConocoPhillips by 9.6% in the second quarter. Alps Advisors Inc. now owns 591,017 shares of the company’s stock valued at $25,768,000 after buying an additional 51,946 shares during the last quarter. Finally, Flossbach Von Storch AG boosted its stake in shares of ConocoPhillips by 0.6% in the second quarter. Flossbach Von Storch AG now owns 265,000 shares of the company’s stock valued at $11,554,000 after buying an additional 1,700 shares during the last quarter. 63.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded down 0.55% during midday trading on Monday, reaching $45.50. 9,429,488 shares of the company traded hands. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $54.75. The company has a 50-day moving average of $43.65 and a 200 day moving average of $42.81. The firm’s market capitalization is $56.38 billion.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. On average, equities analysts forecast that ConocoPhillips will post ($2.83) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -17.67%.
Several analysts have commented on the stock. CLSA cut shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a research report on Tuesday, November 15th. RBC Capital Markets reiterated an “outperform” rating and set a $53.00 target price (up previously from $52.00) on shares of ConocoPhillips in a research report on Monday, October 31st. Clsa Americas cut shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a research report on Monday, November 14th. Vetr upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 target price for the company in a research report on Monday, September 12th. Finally, Simmons restated a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.67.
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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