ConocoPhillips (COP) Stake Maintained by RE Advisers Corp
RE Advisers Corp continued to hold its position in ConocoPhillips (NYSE:COP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,976,308 shares of the energy producer’s stock at the end of the second quarter. ConocoPhillips comprises about 1.4% of RE Advisers Corp’s portfolio, making the stock its 27th largest position. RE Advisers Corp’s holdings in ConocoPhillips were worth $86,878,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted 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 worth $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC boosted 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 worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. State Street Corp boosted 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 worth $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. First Eagle Investment Management LLC boosted 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 worth $501,966,000 after buying an additional 1,744,860 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted 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 worth $116,945,000 after buying an additional 1,000,000 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.
Shares of ConocoPhillips (COP) traded down 1.5171% on Wednesday, hitting $43.8249. The stock had a trading volume of 2,076,588 shares. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The company’s market cap is $53.33 billion. The company has a 50-day moving average of $44.16 and a 200-day moving average of $46.36.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $6.74 billion. During the same quarter in the previous year, the business earned ($0.79) earnings per share. On average, equities analysts anticipate that ConocoPhillips will post $0.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be given 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 2.38%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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COP has been the subject of a number of research reports. BidaskClub cut ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, July 16th. Citigroup Inc. cut their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Sanford C. Bernstein cut ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. Finally, Guggenheim initiated coverage on ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips has a consensus rating of “Buy” and an average price target of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction that occurred 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 accessible through the SEC website. 0.82% of the stock is owned by insiders.
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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