Fishman Jay A Ltd. MI decreased its position in shares of ConocoPhillips (NYSE:COP) by 14.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,017 shares of the energy producer’s stock after selling 5,050 shares during the period. Fishman Jay A Ltd. MI’s holdings in ConocoPhillips were worth $1,653,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Haverford Trust Co. grew its stake in shares of ConocoPhillips by 0.4% during the third quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock valued at $2,552,000 after buying an additional 175 shares during the last quarter. Smart Money Group LLC grew its stake in shares of ConocoPhillips by 2.6% in the second quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock worth $422,000 after purchasing an additional 177 shares during the last quarter. Sandy Spring Bank grew its stake in shares of ConocoPhillips by 0.3% in the third quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock worth $3,075,000 after purchasing an additional 185 shares during the last quarter. Liberty Capital Management Inc. grew its stake in shares of ConocoPhillips by 2.0% in the second quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock worth $580,000 after purchasing an additional 188 shares during the last quarter. Finally, BKD Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 0.3% in the second quarter. BKD Wealth Advisors LLC now owns 68,910 shares of the energy producer’s stock worth $4,204,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
Several analysts have weighed in on COP shares. Deutsche Bank reaffirmed a “buy” rating and set a $68.00 price objective on shares of ConocoPhillips in a research report on Tuesday, November 5th. Barclays started coverage on ConocoPhillips in a research report on Monday, August 19th. They set an “overweight” rating and a $79.00 price objective on the stock. UBS Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $75.00 in a research report on Monday, September 16th. Goldman Sachs Group set a $67.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Morgan Stanley cut their price objective on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus price target of $69.81.
Shares of COP stock traded down $0.38 during trading hours on Friday, hitting $59.16. 4,699,111 shares of the company’s stock traded hands, compared to its average volume of 5,979,278. The stock’s fifty day simple moving average is $56.52 and its two-hundred day simple moving average is $58.08. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $71.01. The stock has a market cap of $64.20 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.70 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.42.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The firm had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same period last year, the business earned $1.36 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, October 16th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.09%.
ConocoPhillips Company Profile
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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