Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Holdings in ConocoPhillips (COP)
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in ConocoPhillips (NYSE:COP) by 2.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,726 shares of the energy producer’s stock after selling 1,402 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ConocoPhillips were worth $3,290,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bourgeon Capital Management LLC raised its stake in shares of ConocoPhillips by 8.8% during the 3rd quarter. Bourgeon Capital Management LLC now owns 17,336 shares of the energy producer’s stock worth $868,000 after purchasing an additional 1,404 shares in the last quarter. Seminole Management Co. Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $1,702,000. Linscomb & Williams Inc. raised its stake in shares of ConocoPhillips by 31.6% during the 3rd quarter. Linscomb & Williams Inc. now owns 17,650 shares of the energy producer’s stock worth $883,000 after purchasing an additional 4,235 shares in the last quarter. Northern Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $516,000. Finally, Victory Capital Management Inc. raised its stake in shares of ConocoPhillips by 933.3% during the 3rd quarter. Victory Capital Management Inc. now owns 298,186 shares of the energy producer’s stock worth $14,924,000 after purchasing an additional 269,327 shares in the last quarter. Hedge funds and other institutional investors own 69.87% of the company’s stock.
ConocoPhillips (COP) opened at $52.17 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22. The company has a market capitalization of $62,370.07, a price-to-earnings ratio of 2,608.50, a price-to-earnings-growth ratio of 12.58 and a beta of 1.26.
The company 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. This represents a $1.06 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio is -57.30%.
In other news, Director Charles E. Bunch acquired 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.
A number of equities research analysts have recently issued reports on COP shares. Scotiabank reiterated a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a research note on Friday, September 8th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Royal Bank of Canada upped their price objective on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Jefferies Group set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Barclays boosted their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus 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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