ConocoPhillips (COP) Stake Increased by Stifel Financial Corp
Stifel Financial Corp boosted its stake in ConocoPhillips (NYSE:COP) by 1.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 721,784 shares of the energy producer’s stock after buying an additional 12,423 shares during the period. Stifel Financial Corp owned 0.06% of ConocoPhillips worth $35,857,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Gemmer Asset Management LLC boosted its position in shares of 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 during the last quarter. Financial Management Professionals Inc. boosted its position in shares of 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 during the last quarter. Advocacy Wealth Management Services LLC boosted its position in shares of 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 during the last quarter. Advantage Investment Management LLC boosted its position in shares of ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after buying an additional 958 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $131,000. Institutional investors own 68.68% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 0.26% during trading on Friday, reaching $43.11. 7,310,360 shares of the company traded hands. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The stock’s 50 day moving average price is $44.10 and its 200-day moving average price is $46.28. The stock’s market cap is $52.46 billion.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the prior year, the business posted ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -34.98%.
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Several research analysts have commented on the stock. BidaskClub cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $55.00 target price on shares of ConocoPhillips in a report on Friday, May 5th. Finally, Bank of America Corporation cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $67.00 in a report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $55.18.
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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