First National Bank of Hutchinson Takes Position in ConocoPhillips (COP)
First National Bank of Hutchinson bought a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,371 shares of the energy producer’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. lifted its holdings in ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the last quarter. First Command Bank lifted its holdings in ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares during the last quarter. Krilogy Financial LLC lifted its holdings in ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Massey Quick & Co. LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $123,000. Institutional investors own 69.87% of the company’s stock.
COP has been the subject of several research reports. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Barclays lifted their price target on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $45.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $55.59.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period in the previous year, the firm earned ($0.66) EPS. equities research analysts anticipate that ConocoPhillips will post 0.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were issued a $0.265 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.06%. ConocoPhillips’s dividend payout ratio is presently -57.30%.
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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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