Mitchell Sinkler & Starr PA Sells 7,195 Shares of ConocoPhillips (COP)
Mitchell Sinkler & Starr PA lowered its stake in ConocoPhillips (NYSE:COP) by 42.0% during the second quarter, Holdings Channel reports. The fund owned 9,930 shares of the energy producer’s stock after selling 7,195 shares during the period. Mitchell Sinkler & Starr PA’s holdings in ConocoPhillips were worth $437,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC raised its position in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. State Street Corp raised its position in ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. First Eagle Investment Management LLC raised its position in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after buying an additional 1,744,860 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock valued at $116,945,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.
ConocoPhillips (NYSE COP) traded up 1.102% during mid-day trading on Friday, hitting $45.405. The company’s stock had a trading volume of 2,514,013 shares. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company’s market cap is $55.26 billion. The firm’s 50-day moving average is $44.26 and its 200-day moving average is $46.70.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the 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 firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. During the same quarter in the prior year, the business posted ($0.79) EPS. Analysts predict that ConocoPhillips will post $0.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.36%. ConocoPhillips’s dividend payout ratio is presently -34.98%.
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Several equities analysts recently issued reports on COP shares. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Guggenheim started coverage on ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating on the stock. Finally, Citigroup Inc. reduced their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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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