ConocoPhillips (COP) Position Lifted by State of Wisconsin Investment Board
State of Wisconsin Investment Board lifted its position in shares of ConocoPhillips (NYSE:COP) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,928 shares of the energy producer’s stock after purchasing an additional 55,706 shares during the period. State of Wisconsin Investment Board owned 0.13% of ConocoPhillips worth $80,026,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Bank of Hawaii increased its holdings in ConocoPhillips by 16.3% during the first quarter. Bank of Hawaii now owns 44,438 shares of the energy producer’s stock worth $2,216,000 after buying an additional 6,224 shares during the last quarter. Leisure Capital Management increased its holdings in ConocoPhillips by 0.8% during the first quarter. Leisure Capital Management now owns 23,102 shares of the energy producer’s stock worth $1,152,000 after buying an additional 192 shares during the last quarter. Blair William & Co. IL increased its holdings in ConocoPhillips by 14.4% during the first quarter. Blair William & Co. IL now owns 150,619 shares of the energy producer’s stock worth $7,347,000 after buying an additional 18,995 shares during the last quarter. Lincoln Capital Corp purchased a new stake in ConocoPhillips during the first quarter worth about $2,458,000. Finally, Cibc World Markets Corp increased its holdings in ConocoPhillips by 51.8% during the first quarter. Cibc World Markets Corp now owns 129,058 shares of the energy producer’s stock worth $6,436,000 after buying an additional 44,034 shares during the last quarter. 69.62% of the stock is currently owned by institutional investors.
COP has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Scotiabank restated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Jefferies Group set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average price target of $55.25.
ConocoPhillips (NYSE COP) opened at $54.25 on Thursday. The firm has a market cap of $62,979.78, a PE ratio of 2,634.00, a PEG ratio of 12.70 and a beta of 1.26. 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 $54.51.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the previous year, the company earned ($0.66) earnings per share. equities research analysts expect that ConocoPhillips will post 0.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a dividend of $0.265 per share. The ex-dividend date was Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 1.95%. ConocoPhillips’s dividend payout ratio is currently -57.30%.
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ConocoPhillips Company Profile
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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