Guinness Atkinson Asset Management Inc Sells 4,000 Shares of ConocoPhillips (COP)
Guinness Atkinson Asset Management Inc reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,500 shares of the energy producer’s stock after selling 4,000 shares during the quarter. ConocoPhillips comprises 0.8% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 26th biggest position. Guinness Atkinson Asset Management Inc’s holdings in ConocoPhillips were worth $1,297,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. First Command Bank lifted its stake in shares of ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares in the last quarter. Advantage Investment Management LLC lifted its stake in shares of ConocoPhillips by 65.3% during the 1st 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 in the last quarter. Westside Investment Management Inc. lifted its stake in shares of ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after buying an additional 2,000 shares in the last quarter. Massey Quick & Co. LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $123,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $123,000. Institutional investors own 68.99% of the company’s stock.
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ConocoPhillips (NYSE:COP) traded up 1.48% during trading on Friday, hitting $46.51. 11,895,013 shares of the company traded hands. The company’s 50 day moving average is $44.48 and its 200-day moving average is $45.66. The stock’s market capitalization is $56.60 billion. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The company 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 earned ($0.79) earnings per share. Analysts predict that ConocoPhillips will post $0.26 earnings per share 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 paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.
A number of analysts recently commented on COP shares. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 15th. Citigroup Inc. dropped 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. 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. Finally, Bank of America Corporation upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $54.19.
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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