ConocoPhillips (NYSE:COP) Shares Sold by Eaton Vance Management
Eaton Vance Management cut its stake in shares of ConocoPhillips (NYSE:COP) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 971,491 shares of the energy producer’s stock after selling 407,372 shares during the quarter. Eaton Vance Management’s holdings in ConocoPhillips were worth $38,850,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth $29,000. Klaas Financial Asset Advisors LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth $31,000. Chiron Capital Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth $35,000. Accel Wealth Management acquired a new position in shares of ConocoPhillips during the 4th quarter worth $35,000. Finally, DB Wealth Management Group LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth $35,000. 72.87% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of ConocoPhillips from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of ConocoPhillips from $39.00 to $50.00 in a research report on Wednesday, December 9th. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research report on Friday, February 5th. JPMorgan Chase & Co. started coverage on shares of ConocoPhillips in a research report on Tuesday, January 19th. They issued a “neutral” rating on the stock. Finally, Smith Barney Citigroup upped their target price on shares of ConocoPhillips from $39.00 to $50.00 in a report on Wednesday, December 9th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.88.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Monday, February 1st. The energy producer reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the prior year, the company posted $0.76 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post -0.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Thursday, February 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.91%.
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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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