ConocoPhillips (COP) Position Lessened by Creative Planning
Creative Planning reduced its position in shares of ConocoPhillips (NYSE:COP) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,507 shares of the energy producer’s stock after selling 1,118 shares during the period. Creative Planning’s holdings in ConocoPhillips were worth $7,803,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waldron LP raised its stake in ConocoPhillips by 44.5% during the 1st quarter. Waldron LP now owns 7,072 shares of the energy producer’s stock valued at $350,000 after purchasing an additional 2,178 shares during the last quarter. Meyer Handelman Co. raised its stake in ConocoPhillips by 1.2% during the 1st quarter. Meyer Handelman Co. now owns 123,007 shares of the energy producer’s stock valued at $6,134,000 after purchasing an additional 1,400 shares during the last quarter. Argyle Capital Management Inc. raised its stake in ConocoPhillips by 2.4% during the 1st quarter. Argyle Capital Management Inc. now owns 56,471 shares of the energy producer’s stock valued at $2,816,000 after purchasing an additional 1,300 shares during the last quarter. Exencial Wealth Advisors LLC raised its stake in ConocoPhillips by 0.7% during the 1st quarter. Exencial Wealth Advisors LLC now owns 34,824 shares of the energy producer’s stock valued at $1,672,000 after purchasing an additional 231 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its stake in ConocoPhillips by 0.7% during the 1st quarter. Moloney Securities Asset Management LLC now owns 9,401 shares of the energy producer’s stock valued at $469,000 after purchasing an additional 69 shares during the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts recently commented on the stock. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. BidaskClub cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Three 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 assigned a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $54.19.
Shares of ConocoPhillips (NYSE COP) traded up 0.80% during midday trading on Friday, hitting $49.08. 7,388,171 shares of the company were exchanged. 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 $44.59 and a 200 day moving average of $45.61. The company’s market capitalization is $59.73 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 Zacks’ consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate 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 previous year, the firm earned ($0.79) earnings per share. On average, equities research analysts expect that ConocoPhillips will post $0.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders 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 2.16%. 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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