ConocoPhillips (COP) Position Boosted by Capital One National Association
Capital One National Association boosted its holdings in ConocoPhillips (NYSE:COP) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,565 shares of the energy producer’s stock after buying an additional 807 shares during the quarter. Capital One National Association’s holdings in ConocoPhillips were worth $641,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. BKD Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 3.4% during the second quarter. BKD Wealth Advisors LLC now owns 65,303 shares of the energy producer’s stock worth $2,871,000 after purchasing an additional 2,155 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of ConocoPhillips by 553.4% during the second quarter. Fox Run Management L.L.C. now owns 37,900 shares of the energy producer’s stock worth $1,666,000 after purchasing an additional 32,100 shares during the last quarter. First Command Bank grew its holdings in shares of ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares during the last quarter. Beacon Financial Group grew its holdings in shares of ConocoPhillips by 1.0% during the second quarter. Beacon Financial Group now owns 15,950 shares of the energy producer’s stock worth $703,000 after purchasing an additional 165 shares during the last quarter. Finally, Independence Advisors LLC purchased a new position in shares of ConocoPhillips during the second quarter worth about $476,000. 68.90% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on COP. Royal Bank Of Canada set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. dropped their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Jefferies Group LLC set a $59.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $52.00 price objective on shares of ConocoPhillips in a report on Thursday, June 22nd. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $58.00 in a report 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 assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $54.19.
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ConocoPhillips (COP) traded up 1.23% during midday trading on Monday, hitting $47.08. 2,983,711 shares of the stock were exchanged. The firm’s 50-day moving average is $44.48 and its 200 day moving average is $45.66. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The stock’s market cap is $57.29 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($0.79) EPS. Equities research analysts expect that ConocoPhillips will post $0.26 EPS for the current fiscal year.
The firm also recently announced 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 yield of 2.28%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -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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