HM Payson & Co. Has $4.48 Million Position in ConocoPhillips (COP)
HM Payson & Co. lowered its position in ConocoPhillips (NYSE:COP) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,906 shares of the energy producer’s stock after selling 9,646 shares during the quarter. HM Payson & Co.’s holdings in ConocoPhillips were worth $4,480,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in COP. Financial Management Professionals Inc. grew its holdings in shares of ConocoPhillips by 0.3% in the second 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 grew its holdings in shares of ConocoPhillips by 9.4% in the second 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. grew its holdings in shares of ConocoPhillips by 468.4% in the first 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 grew its holdings in shares of ConocoPhillips by 65.3% in the first 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 grew its holdings in shares of ConocoPhillips by 20.5% in the second 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. 68.85% of the stock is owned by hedge funds and other institutional investors.
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A number of brokerages recently issued reports on COP. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. dropped their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Jefferies Group LLC set a $59.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Thursday, June 22nd. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $51.00 to $58.00 in a report on Friday, July 28th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.15.
Shares of ConocoPhillips (NYSE:COP) opened at 49.72 on Wednesday. The firm’s market cap is $60.51 billion. The company has a 50-day moving average of $47.32 and a 200 day moving average of $46.11. ConocoPhillips has a one year low of $40.37 and a one year high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
ConocoPhillips Company Profile
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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