Tiaa Fsb lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,781 shares of the energy producer’s stock after purchasing an additional 2,859 shares during the period. Tiaa Fsb’s holdings in ConocoPhillips were worth $6,654,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in shares of ConocoPhillips by 71.3% during the second quarter. Marshall Wace LLP now owns 305,359 shares of the energy producer’s stock worth $18,628,000 after purchasing an additional 127,136 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of ConocoPhillips by 103.2% during the second quarter. WINTON GROUP Ltd now owns 348,948 shares of the energy producer’s stock worth $21,286,000 after purchasing an additional 177,213 shares in the last quarter. Anchor Bolt Capital LP purchased a new position in shares of ConocoPhillips during the second quarter worth about $10,401,000. NEXT Financial Group Inc grew its holdings in shares of ConocoPhillips by 18.1% during the second quarter. NEXT Financial Group Inc now owns 15,677 shares of the energy producer’s stock worth $956,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. grew its holdings in shares of ConocoPhillips by 15.7% during the second quarter. Laurel Wealth Advisors Inc. now owns 9,144 shares of the energy producer’s stock worth $558,000 after purchasing an additional 1,240 shares in the last quarter. Institutional investors own 71.40% of the company’s stock.
COP traded up $0.97 during midday trading on Wednesday, hitting $54.87. The stock had a trading volume of 905,642 shares, compared to its average volume of 6,664,684. The company has a market cap of $59.39 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The business has a fifty day moving average of $55.22 and a 200 day moving average of $59.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $79.96.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $9.42 billion. During the same period in the prior year, the company earned $1.09 EPS. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post 3.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be given a $0.42 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $1.68 annualized dividend and a yield of 3.06%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s payout ratio is presently 26.93%.
COP has been the subject of several research reports. Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 target price for the company in a research note on Thursday, July 11th. Barclays initiated coverage on ConocoPhillips in a research note on Monday, August 19th. They issued an “overweight” rating and a $79.00 target price for the company. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. UBS Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Monday, September 16th. Finally, ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $74.50.
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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