Pointe Capital Management LLC Invests $470,000 in ConocoPhillips (COP)
Pointe Capital Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,427 shares of the energy producer’s stock, valued at approximately $470,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in shares of ConocoPhillips during the first quarter valued at about $193,000. First Foundation Advisors acquired a new position in shares of ConocoPhillips during the first quarter valued at about $497,000. Capital Investment Advisors LLC raised its position in shares of ConocoPhillips by 10.3% in the first quarter. Capital Investment Advisors LLC now owns 26,482 shares of the energy producer’s stock valued at $1,321,000 after buying an additional 2,477 shares during the period. Shell Asset Management Co. raised its position in shares of ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock valued at $9,845,000 after buying an additional 1,887 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock valued at $208,197,000 after buying an additional 730,325 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.
Shares of ConocoPhillips (COP) traded down 0.8233% during trading on Tuesday, hitting $44.1733. The stock had a trading volume of 1,548,116 shares. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The stock’s market cap is $53.76 billion. The stock’s 50 day moving average price is $44.16 and its 200-day moving average price is $46.39.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same period last year, the business earned ($0.79) EPS. Analysts expect that ConocoPhillips will post $0.25 earnings per share for the current fiscal year.
The company 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 $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 2.38%. ConocoPhillips’s payout ratio is -34.98%.
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Several research analysts have issued reports on COP shares. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC restated a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research report on Friday, May 5th. Finally, Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 1st. Two 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 “Buy” and a consensus target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.
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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