Mosaic Family Wealth LLC Trims Stake in ConocoPhillips (COP)
Mosaic Family Wealth LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 45.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,578 shares of the energy producer’s stock after selling 2,993 shares during the quarter. Mosaic Family Wealth LLC’s holdings in ConocoPhillips were worth $179,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Financial Management Professionals Inc. lifted its holdings 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 valued at $100,000 after purchasing an additional 6 shares in the last quarter. First Command Bank lifted its holdings 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 valued at $101,000 after purchasing an additional 199 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares in the last quarter. Westside Investment Management Inc. lifted its holdings 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 valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Massey Quick & Co. LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $123,000. 69.87% of the stock is owned by institutional investors and hedge funds.
In related news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the company earned ($0.66) earnings per share. analysts predict that ConocoPhillips will post 0.55 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.03%. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
COP has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $54.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Scotiabank restated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Jefferies Group set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $55.19.
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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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