NGAM Advisors L.P. Has $7.67 Million Stake in ConocoPhillips (COP)
NGAM Advisors L.P. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 17.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,356 shares of the energy producer’s stock after acquiring an additional 26,369 shares during the period. NGAM Advisors L.P.’s holdings in ConocoPhillips were worth $7,665,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Sumitomo Life Insurance Co. grew its position in shares of ConocoPhillips by 9.8% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 67,747 shares of the energy producer’s stock valued at $2,978,000 after acquiring an additional 6,043 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $3,194,000. John G Ullman & Associates Inc. grew its position in shares of ConocoPhillips by 5.2% during the 2nd quarter. John G Ullman & Associates Inc. now owns 160,860 shares of the energy producer’s stock valued at $7,071,000 after acquiring an additional 7,975 shares during the period. First Heartland Consultants Inc. grew its position in shares of ConocoPhillips by 10.1% during the 2nd quarter. First Heartland Consultants Inc. now owns 5,815 shares of the energy producer’s stock valued at $256,000 after acquiring an additional 532 shares during the period. Finally, Bristlecone Advisors LLC grew its position in shares of ConocoPhillips by 7.2% during the 2nd quarter. Bristlecone Advisors LLC now owns 31,154 shares of the energy producer’s stock valued at $1,370,000 after acquiring an additional 2,097 shares during the period. Hedge funds and other institutional investors own 68.99% of the company’s stock.
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A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Citigroup Inc. decreased their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada set a $62.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 16th. Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $63.00 to $42.00 in a research note on Thursday, July 6th. Finally, Cowen and Company set a $55.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, July 18th. Three 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.03.
Shares of ConocoPhillips (COP) opened at 44.93 on Tuesday. The firm’s market cap is $54.68 billion. The stock’s 50 day moving average is $44.22 and its 200-day moving average is $45.69. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17.
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, beating the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. Analysts anticipate that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.
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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