ConocoPhillips (COP) Position Maintained by First National Bank Sioux Falls
First National Bank Sioux Falls held its stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,642 shares of the energy producer’s stock at the end of the first quarter. First National Bank Sioux Falls’ holdings in ConocoPhillips were worth $281,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Gemmer Asset Management LLC boosted its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the period. Quadrant Capital Group LLC raised its position in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares in the last quarter. First Command Bank acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $148,000. Finally, Elgethun Capital Management acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $165,000. 65.39% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE:COP) traded up 2.31% during mid-day trading on Friday, hitting $47.49. 1,890,318 shares of the stock were exchanged. ConocoPhillips has a 52 week low of $38.80 and a 52 week high of $53.17. The stock’s 50-day moving average is $48.14 and its 200 day moving average is $48.05. The company’s market capitalization is $58.75 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.05. ConocoPhillips had a negative return on equity of 8.73% and a negative net margin of 14.84%. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same period last year, the firm posted ($0.95) EPS. On average, analysts anticipate that ConocoPhillips will post $0.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. ConocoPhillips’s dividend payout ratio is currently -36.43%.
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Several brokerages recently weighed in on COP. Jefferies Group LLC restated a “hold” rating and issued a $55.00 price objective on shares of ConocoPhillips in a report on Monday. Bank of America Corp lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $67.00 in a report on Thursday, May 11th. Instinet reiterated a “neutral” rating and issued a $54.00 target price on shares of ConocoPhillips in a report on Monday, April 3rd. Royal Bank of Canada reiterated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, February 7th. Finally, Goldman Sachs Group Inc reiterated a “positive” rating on shares of ConocoPhillips in a report on Monday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $56.92.
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 six segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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