Beacon Financial Group Buys 165 Shares of ConocoPhillips (COP)
Beacon Financial Group increased its stake in shares of ConocoPhillips (NYSE:COP) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,950 shares of the energy producer’s stock after acquiring an additional 165 shares during the period. Beacon Financial Group’s holdings in ConocoPhillips were worth $703,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Independence Advisors LLC acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $476,000. Bremer Trust National Association lifted its position in ConocoPhillips by 1.3% during the 2nd quarter. Bremer Trust National Association now owns 10,102 shares of the energy producer’s stock worth $444,000 after acquiring an additional 125 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in ConocoPhillips by 4.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 100,024 shares of the energy producer’s stock worth $4,397,000 after acquiring an additional 4,591 shares in the last quarter. Catawba Capital Management VA lifted its position in ConocoPhillips by 0.5% during the 2nd quarter. Catawba Capital Management VA now owns 36,682 shares of the energy producer’s stock worth $1,613,000 after acquiring an additional 188 shares in the last quarter. Finally, Lau Associates LLC lifted its position in ConocoPhillips by 12.8% during the 2nd quarter. Lau Associates LLC now owns 73,148 shares of the energy producer’s stock worth $3,216,000 after acquiring an additional 8,286 shares in the last quarter. 68.99% of the stock is currently owned by hedge funds and other institutional investors.
COP has been the topic of several recent research reports. Scotiabank reissued a “buy” rating and set a $52.00 price target on shares of ConocoPhillips in a research report on Friday, September 8th. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Citigroup Inc. reduced their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Finally, Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $54.19.
ConocoPhillips (NYSE COP) traded up 1.48% on Friday, reaching $46.51. The company had a trading volume of 11,895,013 shares. 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 $44.48 and a 200 day moving average of $45.66. The stock’s market cap is $56.60 billion.
ConocoPhillips (NYSE:COP) last posted 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. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same quarter in the prior year, the firm posted ($0.79) EPS. On average, equities research analysts predict that ConocoPhillips will post $0.26 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued a $0.265 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. ConocoPhillips’s payout ratio is presently -34.98%.
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ConocoPhillips Company Profile
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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