ConocoPhillips (NYSE:COP) Holdings Raised by Private Capital Group LLC
Private Capital Group LLC grew its position in ConocoPhillips (NYSE:COP) by 15.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,213 shares of the energy producer’s stock after acquiring an additional 976 shares during the quarter. Private Capital Group LLC’s holdings in ConocoPhillips were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AE Wealth Management LLC increased its holdings in shares of ConocoPhillips by 63.1% in the 1st quarter. AE Wealth Management LLC now owns 73,369 shares of the energy producer’s stock valued at $2,260,000 after acquiring an additional 28,391 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of ConocoPhillips by 110.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 10,322 shares of the energy producer’s stock valued at $318,000 after acquiring an additional 5,422 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ConocoPhillips by 24.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 601,493 shares of the energy producer’s stock valued at $18,526,000 after acquiring an additional 119,849 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $233,000. Finally, Russell Investments Group Ltd. grew its stake in ConocoPhillips by 8.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,340,898 shares of the energy producer’s stock worth $40,857,000 after buying an additional 101,153 shares during the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $67.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. Cfra lowered their price objective on ConocoPhillips from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, March 9th. TheStreet downgraded ConocoPhillips from a “b-” rating to a “c+” rating in a research note on Thursday, March 12th. Susquehanna Bancshares upped their price objective on ConocoPhillips from $40.00 to $50.00 in a research note on Friday, May 1st. Finally, Goldman Sachs Group raised ConocoPhillips from a “buy” rating to a “conviction-buy” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.00.
Shares of ConocoPhillips stock opened at $40.87 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $45.33 billion, a price-to-earnings ratio of 12.81 and a beta of 1.71. The business has a fifty day simple moving average of $35.87 and a 200-day simple moving average of $51.45. ConocoPhillips has a fifty-two week low of $20.84 and a fifty-two week high of $67.13.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.23 by $0.22. ConocoPhillips had a return on equity of 10.02% and a net margin of 11.51%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the business posted $1.00 earnings per share. Analysts anticipate that ConocoPhillips will post -1.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, May 8th. ConocoPhillips’s dividend payout ratio is 46.80%.
ConocoPhillips declared that its board has authorized a stock repurchase plan on Tuesday, February 4th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy producer to purchase up to 15.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
ConocoPhillips Company Profile
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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