United Fire Group Inc. Holds Position in ConocoPhillips (COP)
United Fire Group Inc. maintained its stake in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,059 shares of the energy producer’s stock at the end of the first quarter. United Fire Group Inc.’s holdings in ConocoPhillips were worth $502,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of COP. 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 in the last quarter. Quadrant Capital Group LLC boosted its stake in 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. boosted its stake in 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. Advocacy Wealth Management Services LLC boosted its stake in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Finally, Crestwood Advisors Group LLC bought a new stake in ConocoPhillips during the first quarter valued at approximately $131,000. 68.04% of the stock is owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE:COP) opened at 44.83 on Friday. The stock’s 50 day moving average price is $45.94 and its 200-day moving average price is $48.15. ConocoPhillips has a 52-week low of $38.80 and a 52-week high of $53.17. The firm’s market cap is $55.46 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.05. ConocoPhillips had a negative return on equity of 5.92% and a negative net margin of 5.05%. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the prior year, the business earned ($0.95) EPS. On average, equities research analysts anticipate that ConocoPhillips will post $0.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.06 dividend on an annualized basis and a yield of 2.36%. ConocoPhillips’s dividend payout ratio is currently -95.50%.
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COP has been the subject of several recent research reports. Jefferies Group LLC raised ConocoPhillips from a “hold” rating to a “buy” rating and increased their price target for the company from $55.00 to $59.00 in a report on Wednesday, May 17th. Cowen and Company reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Scotiabank set a $57.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Thursday, April 6th. Vetr cut ConocoPhillips from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 31st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a research note on Thursday, June 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.80.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.82% of the company’s stock.
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 five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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