Guardian Capital Advisors LP Acquires Shares of 8,543 ConocoPhillips (COP)
Guardian Capital Advisors LP acquired a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The fund acquired 8,543 shares of the energy producer’s stock, valued at approximately $510,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake in ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 1,500 shares during the period. Krilogy Financial LLC raised its stake in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares during the period. Rocky Mountain Advisers LLC raised its stake in ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after acquiring an additional 1,396 shares during the period. Clear Perspective Advisors LLC raised its stake in ConocoPhillips by 75.5% in the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after acquiring an additional 1,200 shares during the period. Finally, Truewealth LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $138,000. 71.27% of the stock is owned by institutional investors.
A number of research firms recently weighed in on COP. UBS Group began coverage on ConocoPhillips in a research note on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price target on the stock. Barclays set a $71.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, March 4th. Argus dropped their price target on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a research note on Friday, February 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, February 14th. Finally, Citigroup increased their price target on ConocoPhillips from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average price target of $58.75.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter last year, the business earned ($0.26) EPS. sell-side analysts forecast that ConocoPhillips will post 2.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were given a dividend of $0.285 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.11%. ConocoPhillips’s dividend payout ratio (DPR) is presently -228.00%.
ConocoPhillips declared that its board has authorized a stock repurchase program on Thursday, February 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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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