BlueCrest Capital Management Ltd cut its holdings in shares of ConocoPhillips (NYSE:COP) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 266,747 shares of the energy producer’s stock after selling 145,854 shares during the period. BlueCrest Capital Management Ltd’s holdings in ConocoPhillips were worth $14,642,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC boosted its stake in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Truewealth LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $138,000. Hedge funds and other institutional investors own 71.27% of the company’s stock.
A number of equities research analysts recently commented on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a research report on Wednesday, January 24th. Morgan Stanley increased their target price on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Macquarie assumed coverage on shares of ConocoPhillips in a research report on Wednesday, January 17th. They set an “outperform” rating for the company. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays increased their target price on shares of ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and an average target price of $58.75.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same quarter last year, the company posted ($0.26) earnings per share. sell-side analysts expect that ConocoPhillips will post 2.87 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a $0.285 dividend. The ex-dividend date was Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio (DPR) is currently -83.82%.
ConocoPhillips declared that its board has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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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