ConocoPhillips (NYSE:COP) Shares Sold by Lakeview Capital Partners LLC
Lakeview Capital Partners LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 19.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,579 shares of the energy producer’s stock after selling 1,334 shares during the quarter. Lakeview Capital Partners LLC’s holdings in ConocoPhillips were worth $318,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Haverford Trust Co. boosted its holdings in ConocoPhillips by 0.4% in the 3rd quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock worth $2,552,000 after buying an additional 175 shares during the last quarter. Smart Money Group LLC increased its position in shares of ConocoPhillips by 2.6% during the second quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock worth $422,000 after acquiring an additional 177 shares during the period. Sandy Spring Bank increased its position in shares of ConocoPhillips by 0.3% during the third quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock worth $3,075,000 after acquiring an additional 185 shares during the period. Liberty Capital Management Inc. increased its position in shares of ConocoPhillips by 2.0% during the second quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock worth $580,000 after acquiring an additional 188 shares during the period. Finally, BKD Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 0.3% during the second quarter. BKD Wealth Advisors LLC now owns 68,910 shares of the energy producer’s stock worth $4,204,000 after purchasing an additional 194 shares in the last quarter. Institutional investors own 71.45% of the company’s stock.
Several research firms have issued reports on COP. Warburg Research restated a “neutral” rating and issued a $61.00 price objective on shares of ConocoPhillips in a research note on Friday. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, July 17th. HSBC reissued a “neutral” rating and set a $59.00 price target on shares of ConocoPhillips in a report on Tuesday, November 5th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.00 to $75.00 in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $69.81.
ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, October 29th. The energy producer reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be paid a dividend of $0.42 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, October 16th. ConocoPhillips’s dividend payout ratio is presently 37.09%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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