ConocoPhillips (COP) Position Cut by Federated Investors Inc. PA
Federated Investors Inc. PA decreased its position in ConocoPhillips (NYSE:COP) by 55.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,714 shares of the energy producer’s stock after selling 233,660 shares during the period. Federated Investors Inc. PA’s holdings in ConocoPhillips were worth $8,164,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. raised its holdings in shares of ConocoPhillips by 0.3% during 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 raised its holdings in shares of ConocoPhillips by 9.4% during 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. Advantage Investment Management LLC raised its holdings in shares of ConocoPhillips by 65.3% during 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. Westside Investment Management Inc. raised its holdings in shares of ConocoPhillips by 468.4% during 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. Finally, Massey Quick & Co. LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at about $123,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
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Several equities analysts have recently weighed in on COP shares. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Morgan Stanley upped their price objective on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Hold” and an average price target of $54.20.
Shares of ConocoPhillips (NYSE:COP) opened at 49.71 on Friday. The firm has a 50-day moving average of $47.96 and a 200-day moving average of $46.16. The company’s market capitalization is $60.49 billion. ConocoPhillips has a 12 month low of $40.96 and a 12 month high of $53.17.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.79) earnings per share. On average, equities analysts predict that ConocoPhillips will post $0.31 earnings per share for the current year.
The company also recently announced 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. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.13%. ConocoPhillips’s dividend payout ratio (DPR) is presently -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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