ConocoPhillips (COP) Shares Sold by CORDA Investment Management LLC.
CORDA Investment Management LLC. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,141 shares of the energy producer’s stock after selling 1,470 shares during the quarter. CORDA Investment Management LLC.’s holdings in ConocoPhillips were worth $1,808,000 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 COP. Tdam USA Inc. lifted its holdings in shares of ConocoPhillips by 19.1% during the first quarter. Tdam USA Inc. now owns 41,669 shares of the energy producer’s stock valued at $2,078,000 after purchasing an additional 6,695 shares in the last quarter. Flippin Bruce & Porter Inc. lifted its holdings in shares of ConocoPhillips by 6.9% during the first quarter. Flippin Bruce & Porter Inc. now owns 195,421 shares of the energy producer’s stock valued at $9,746,000 after purchasing an additional 12,615 shares in the last quarter. Boston Research & Management Inc. lifted its holdings in shares of ConocoPhillips by 0.4% during the first quarter. Boston Research & Management Inc. now owns 54,311 shares of the energy producer’s stock valued at $2,708,000 after purchasing an additional 200 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of ConocoPhillips by 0.6% during the first quarter. Wedbush Securities Inc. now owns 25,204 shares of the energy producer’s stock valued at $1,257,000 after purchasing an additional 154 shares in the last quarter. Finally, Pax World Management LLC lifted its holdings in shares of ConocoPhillips by 5.9% during the first quarter. Pax World Management LLC now owns 8,928 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 501 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (COP) opened at $53.48 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.07. The stock has a market capitalization of $64,163.34, a PE ratio of 2,683.50, a P/E/G ratio of 15.19 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the business posted ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
A number of research analysts have recently issued reports on the company. Scotiabank reaffirmed a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Wednesday, November 1st. Royal Bank Of Canada set a $58.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research report on Monday, October 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, November 3rd. BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Barclays PLC reiterated an “overweight” rating and set a $55.00 price objective (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Hold” and a consensus target price of $55.26.
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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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