ConocoPhillips (COP) Shares Bought by Channing Capital Management LLC
Channing Capital Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,486 shares of the energy producer’s stock after acquiring an additional 4,742 shares during the period. Channing Capital Management LLC’s holdings in ConocoPhillips were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of COP. Wellington Management Group LLP grew its stake in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares during the period. FMR LLC boosted its position in shares of ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the period. State Street Corp boosted its position in shares of ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the period. First Eagle Investment Management LLC boosted its position in shares of ConocoPhillips by 21.0% during the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of ConocoPhillips by 74.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock worth $116,945,000 after buying an additional 1,000,000 shares during the period. 68.90% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on COP. Wolfe Research cut ConocoPhillips from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Scotiabank set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. BidaskClub cut ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Citigroup Inc. reduced their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Three equities research 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $54.19.
Shares of ConocoPhillips (NYSE COP) opened at 47.09 on Tuesday. The company’s market cap is $57.31 billion. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The firm has a 50-day moving average price of $44.53 and a 200 day moving average price of $45.62.
ConocoPhillips (NYSE:COP) last announced its 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. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the business earned ($0.79) EPS. On average, analysts predict 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. Stockholders of record on Monday, July 24th were paid 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 2.25%. ConocoPhillips’s payout ratio is presently -34.98%.
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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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