Pinebridge Investments L.P. Boosts Holdings in ConocoPhillips (COP)
Pinebridge Investments L.P. boosted its position in ConocoPhillips (NYSE:COP) by 242.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,139 shares of the energy producer’s stock after purchasing an additional 13,558 shares during the quarter. Pinebridge Investments L.P.’s holdings in ConocoPhillips were worth $841,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Financial Management Professionals Inc. grew its stake 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 worth $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank grew its stake 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 worth $101,000 after acquiring an additional 199 shares during the last quarter. Westside Investment Management Inc. grew its stake 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 worth $119,000 after acquiring an additional 2,000 shares during the last quarter. Massey Quick & Co. LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth $123,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth $123,000. Institutional investors and hedge funds own 70.08% of the company’s stock.
ConocoPhillips (COP) opened at $50.49 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $54.22. The company has a market capitalization of $61,246.29, a PE ratio of 2,561.50, a PEG ratio of 12.59 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 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 for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned ($0.66) earnings per share. research analysts expect that ConocoPhillips will post 0.54 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 paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased their target price on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Wells Fargo & Company increased their target price on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Barclays PLC increased their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $55.37.
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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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