Fmr LLC Boosts Position in ConocoPhillips (COP)
Fmr LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,497,903 shares of the energy producer’s stock after buying an additional 3,982,002 shares during the period. Fmr LLC owned about 4.97% of ConocoPhillips worth $3,066,900,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of COP. State of Alaska Department of Revenue purchased a new stake in ConocoPhillips during the first quarter worth $193,000. First Foundation Advisors purchased a new stake in ConocoPhillips during the first quarter worth $497,000. Shell Asset Management Co. raised its stake in ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares during the period. UBS Asset Management Americas Inc. raised its stake in 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 worth $208,197,000 after buying an additional 730,325 shares during the period. Finally, Bourgeon Capital Management LLC raised its stake in ConocoPhillips by 16.5% in the first quarter. Bourgeon Capital Management LLC now owns 17,632 shares of the energy producer’s stock worth $879,000 after buying an additional 2,500 shares during the period. 68.98% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded up 1.33% during midday trading on Friday, reaching $44.24. 4,808,804 shares of the company’s stock traded hands. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The company has a 50-day moving average of $44.00 and a 200-day moving average of $45.84. The company’s market capitalization is $53.84 billion.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the 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 company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the business posted ($0.79) earnings per share. Equities research analysts anticipate that ConocoPhillips will post $0.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
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A number of analysts recently weighed in 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 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 report on Friday, August 25th. Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. BidaskClub lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a 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 report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given 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 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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