Waters Parkerson & CO. LLC Increases Stake in ConocoPhillips (COP)
Waters Parkerson & CO. LLC grew its position in ConocoPhillips (NYSE:COP) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,043 shares of the energy producer’s stock after purchasing an additional 125 shares during the period. Waters Parkerson & CO. LLC’s holdings in ConocoPhillips were worth $529,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in COP. Virtu KCG Holdings LLC grew its holdings in ConocoPhillips by 533.4% during the second quarter. Virtu KCG Holdings LLC now owns 147,256 shares of the energy producer’s stock worth $6,473,000 after acquiring an additional 124,007 shares during the period. TLP Group LLC acquired a new stake in ConocoPhillips during the second quarter worth about $142,000. Parametric Portfolio Associates LLC grew its holdings in ConocoPhillips by 42.3% during the second quarter. Parametric Portfolio Associates LLC now owns 3,408,533 shares of the energy producer’s stock worth $149,839,000 after acquiring an additional 1,012,992 shares during the period. WealthPLAN Partners LLC grew its holdings in ConocoPhillips by 1,210.3% during the second quarter. WealthPLAN Partners LLC now owns 5,359 shares of the energy producer’s stock worth $236,000 after acquiring an additional 4,950 shares during the period. Finally, Marco Investment Management LLC grew its holdings in ConocoPhillips by 2.9% during the second quarter. Marco Investment Management LLC now owns 80,368 shares of the energy producer’s stock worth $3,533,000 after acquiring an additional 2,252 shares during the period. 69.83% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Scotiabank reaffirmed a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. BidaskClub lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC reaffirmed an “overweight” rating and set a $55.00 target price (up from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.37.
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Shares of ConocoPhillips (NYSE:COP) opened at $50.08 on Tuesday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The company has a market capitalization of $59,930.00, a P/E ratio of 2,506.50, a P/E/G ratio of 12.32 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating 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 firm earned ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. ConocoPhillips’s dividend payout ratio is presently -53.27%.
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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