Seaward Management Limited Partnership Purchases 66 Shares of ConocoPhillips (COP)
Seaward Management Limited Partnership raised its position in ConocoPhillips (NYSE:COP) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,730 shares of the energy producer’s stock after purchasing an additional 66 shares during the quarter. Seaward Management Limited Partnership’s holdings in ConocoPhillips were worth $3,285,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its stake in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares during the period. First Command Bank raised its stake in shares of ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the period. Westside Investment Management Inc. raised its stake in shares of ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the period. Advantage Investment Management LLC raised its stake in shares of ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 958 shares during the period. Finally, Reilly Financial Advisors LLC raised its stake in shares of ConocoPhillips by 20.5% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 470 shares during the period. 68.90% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE:COP) opened at 48.86 on Friday. ConocoPhillips has a 12 month low of $40.37 and a 12 month high of $53.17. The firm’s 50-day moving average price is $46.33 and its 200-day moving average price is $45.93. The firm’s market cap is $59.46 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm 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 quarter last year, the business posted ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. ConocoPhillips’s payout ratio is currently -34.98%.
Several analysts have issued reports on the company. Royal Bank Of Canada set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. dropped their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Jefferies Group LLC set a $59.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, June 22nd. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $54.45.
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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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