AMP Capital Investors Ltd decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,930 shares of the energy producer’s stock after selling 8,790 shares during the period. AMP Capital Investors Ltd’s holdings in ConocoPhillips were worth $16,517,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. WFG Advisors LP boosted its position in shares of ConocoPhillips by 0.4% during the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares in the last quarter. First City Capital Management Inc. boosted its position in shares of ConocoPhillips by 1.4% during the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares in the last quarter. Waters Parkerson & CO. LLC boosted its position in shares of ConocoPhillips by 1.0% during the 2nd quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock valued at $529,000 after purchasing an additional 125 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its position in shares of ConocoPhillips by 1.5% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 8,734 shares of the energy producer’s stock valued at $383,000 after purchasing an additional 130 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its position in shares of ConocoPhillips by 3.7% during the 2nd quarter. North Star Asset Management Inc. now owns 7,805 shares of the energy producer’s stock valued at $343,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 71.27% of the company’s stock.
A number of research analysts recently weighed in on the company. UBS Group assumed coverage on ConocoPhillips in a research note on Wednesday, March 7th. They set a “buy” rating and a $60.00 price target on the stock. Barclays set a $71.00 price target on ConocoPhillips and gave the stock 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 raised 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 upped their price target on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.75.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate 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 period last year, the business posted ($0.26) earnings per share. research analysts anticipate that ConocoPhillips will post 2.87 EPS for the current fiscal year.
ConocoPhillips declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the energy producer to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is presently -83.82%.
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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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