Wedge Capital Management L L P NC cut its position in ConocoPhillips (NYSE:COP) by 4.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,151 shares of the energy producer’s stock after selling 12,293 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ConocoPhillips were worth $17,096,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Pineno Levin & Ford Asset Management Inc. increased its holdings in shares of ConocoPhillips by 0.4% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock valued at $2,357,000 after acquiring an additional 150 shares in the last quarter. First Commonwealth Financial Corp PA boosted its position in ConocoPhillips by 2.8% in the fourth quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock valued at $340,000 after buying an additional 150 shares during the last quarter. Fishman Jay A Ltd. MI boosted its position in ConocoPhillips by 0.4% in the fourth quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock valued at $2,386,000 after buying an additional 152 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in ConocoPhillips by 1.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock valued at $675,000 after buying an additional 158 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in ConocoPhillips by 0.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock valued at $2,284,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 74.69% of the company’s stock.
COP has been the topic of a number of recent research reports. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, March 13th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $82.00 in a research report on Sunday, February 3rd. Morgan Stanley set a $77.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Piper Jaffray Companies reiterated a “hold” rating on shares of ConocoPhillips in a research report on Tuesday, February 12th. Finally, Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $78.60.
Shares of NYSE COP traded up $0.66 during mid-day trading on Thursday, reaching $62.98. 1,935,343 shares of the company’s stock were exchanged, compared to its average volume of 6,839,747. The stock has a market cap of $69.16 billion, a PE ratio of 13.90, a P/E/G ratio of 1.47 and a beta of 1.06. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period in the prior year, the business posted $0.96 EPS. Research analysts predict that ConocoPhillips will post 4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.93%.
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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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