ConocoPhillips (COP) Shares Bought by Boston Advisors LLC
Boston Advisors LLC raised its position in ConocoPhillips (NYSE:COP) by 20.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529,282 shares of the energy producer’s stock after buying an additional 91,123 shares during the period. Boston Advisors LLC’s holdings in ConocoPhillips were worth $23,267,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of COP. ING Groep NV increased its stake in ConocoPhillips by 4.5% in the second quarter. ING Groep NV now owns 89,586 shares of the energy producer’s stock worth $3,938,000 after buying an additional 3,854 shares during the period. Goodwin Daniel L acquired a new stake in ConocoPhillips during the second quarter worth about $462,000. Lincoln Capital Corp increased its stake in ConocoPhillips by 3.4% in the second quarter. Lincoln Capital Corp now owns 50,968 shares of the energy producer’s stock worth $2,241,000 after buying an additional 1,678 shares during the period. Russell Investments Group Ltd. increased its stake in ConocoPhillips by 16.2% in the second quarter. Russell Investments Group Ltd. now owns 1,023,054 shares of the energy producer’s stock worth $44,974,000 after buying an additional 142,985 shares during the period. Finally, Wallington Asset Management LLC increased its stake in ConocoPhillips by 3.6% in the second quarter. Wallington Asset Management LLC now owns 83,057 shares of the energy producer’s stock worth $3,651,000 after buying an additional 2,850 shares during the period. 68.98% of the stock is owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE COP) traded down 0.871% during trading on Tuesday, hitting $42.675. The stock had a trading volume of 2,316,250 shares. The company’s 50-day moving average is $43.96 and its 200 day moving average is $46.07. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The firm’s market cap is $51.93 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 analysts’ expectations of $6.74 billion. During the same period in the prior year, the firm posted ($0.79) earnings per share. Equities analysts expect that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.46%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
A number of analysts recently issued reports on the stock. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $54.13.
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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