ConocoPhillips (COP) Stake Lessened by Boston Partners
Boston Partners decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,913,534 shares of the energy producer’s stock after selling 408,574 shares during the period. Boston Partners owned about 0.49% of ConocoPhillips worth $259,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. State Street Corp lifted its position in shares of ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after buying an additional 2,452,533 shares in the last quarter. FMR LLC lifted its position in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after buying an additional 176,055 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of ConocoPhillips by 21.0% during the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after buying an additional 1,744,860 shares in the last quarter. Hedge funds and other institutional investors own 68.90% of the company’s stock.
COP has been the topic of a number of recent analyst reports. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $52.00 target price on shares of ConocoPhillips in a research report on Thursday, June 22nd. Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $54.45.
Shares of ConocoPhillips (COP) opened at 48.86 on Monday. The firm has a 50 day moving average price of $46.33 and a 200-day moving average price of $45.93. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17. The firm’s market capitalization is $59.46 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the prior year, the business earned ($0.79) earnings per share. Equities research analysts predict that ConocoPhillips will post $0.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.17%. ConocoPhillips’s dividend payout ratio is currently -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.
Receive News & Stock Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related stocks with our FREE daily email newsletter.