9,966 Shares in ConocoPhillips (COP) Acquired by First Foundation Advisors
First Foundation Advisors purchased a new position in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,966 shares of the energy producer’s stock, valued at approximately $497,000.
A number of other hedge funds have also added to or reduced their stakes in COP. Gemmer Asset Management LLC increased 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 worth $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC increased 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 worth $109,000 after buying an additional 569 shares during the last quarter. Financial Management Professionals Inc. increased 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 worth $114,000 after buying an additional 6 shares during the last quarter. Advocacy Wealth Management Services LLC increased 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 worth $116,000 after buying an additional 100 shares during the last quarter. Finally, Crestwood Advisors Group LLC acquired a new stake in ConocoPhillips during the first quarter worth approximately $131,000. Institutional investors own 67.77% of the company’s stock.
ConocoPhillips (NYSE COP) traded up 1.45% on Friday, reaching $45.56. 6,101,278 shares of the company’s stock were exchanged. The firm’s market capitalization is $55.44 billion. The stock’s 50 day moving average price is $44.26 and its 200 day moving average price is $46.70. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the business posted ($0.79) earnings per share. On average, analysts expect that ConocoPhillips will post $0.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.33%. ConocoPhillips’s dividend payout ratio is -34.98%.
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A number of analysts have recently issued reports on COP shares. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Citigroup Inc. cut their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $52.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 22nd. Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $58.00 in a research report on Friday, July 28th. Finally, Guggenheim assumed coverage on shares of ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips has a consensus rating of “Hold” and a consensus target price of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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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