Clear Perspective Advisors LLC Has $236,000 Stake in ConocoPhillips (COP)
Clear Perspective Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 53.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,295 shares of the energy producer’s stock after acquiring an additional 1,505 shares during the period. Clear Perspective Advisors LLC’s holdings in ConocoPhillips were worth $236,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of COP. Freestone Capital Holdings LLC boosted its holdings in ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. boosted its holdings in ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares in the last quarter. Toronto Dominion Bank boosted its holdings in ConocoPhillips by 16.1% during the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares in the last quarter. Korea Investment CORP boosted its holdings in ConocoPhillips by 32.8% during the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in ConocoPhillips during the second quarter worth about $26,376,000. 70.93% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) opened at $52.02 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The stock has a market cap of $61,233.10, a PE ratio of 71.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $61.31.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be given a dividend of $0.285 per share. The ex-dividend date is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a yield of 2.19%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s payout ratio is presently -212.00%.
ConocoPhillips declared that its board has authorized a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts recently commented on COP shares. Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group started coverage on shares of ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.06.
In other ConocoPhillips news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.
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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