Mycio Wealth Partners LLC Takes Position in ConocoPhillips (COP)
Mycio Wealth Partners LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,390 shares of the energy producer’s stock, valued at approximately $219,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $1,219,000. BP PLC raised its stake in shares of ConocoPhillips by 1.3% in the fourth quarter. BP PLC now owns 153,000 shares of the energy producer’s stock worth $7,671,000 after buying an additional 2,000 shares during the period. Nippon Life Insurance Co. raised its stake in shares of ConocoPhillips by 0.6% in the third quarter. Nippon Life Insurance Co. now owns 46,000 shares of the energy producer’s stock worth $2,000,000 after buying an additional 261 shares during the period. Flippin Bruce & Porter Inc. raised its stake in shares of ConocoPhillips by 44.3% in the third quarter. Flippin Bruce & Porter Inc. now owns 176,657 shares of the energy producer’s stock worth $7,679,000 after buying an additional 54,262 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $933,000. 65.39% of the stock is owned by institutional investors.
ConocoPhillips (NYSE:COP) opened at 46.42 on Friday. The stock’s 50 day moving average price is $48.14 and its 200 day moving average price is $48.05. The firm’s market capitalization is $57.43 billion. ConocoPhillips has a 52-week low of $38.80 and a 52-week high of $53.17.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.05. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.47 billion. ConocoPhillips had a negative net margin of 14.84% and a negative return on equity of 8.73%. During the same period in the previous year, the company posted ($0.95) EPS. On average, equities analysts anticipate that ConocoPhillips will post $0.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.06 annualized dividend and a dividend yield of 2.28%. ConocoPhillips’s payout ratio is -36.43%.
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A number of analysts have recently weighed in on COP shares. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Scotiabank set a $53.00 target price on ConocoPhillips and gave the company a “buy” rating in a research note on Monday, March 27th. TheStreet upgraded ConocoPhillips from a “d+” rating to a “c” rating in a research note on Monday, March 6th. Guggenheim started coverage on ConocoPhillips in a research note on Tuesday, April 18th. They issued a “neutral” rating for the company. Finally, Credit Suisse Group AG set a $60.00 target price on ConocoPhillips and gave the company a “neutral” rating in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.92.
ConocoPhillips Company Profile
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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