Stock Yards Bank & Trust Co. decreased its position in ConocoPhillips (NYSE:COP) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,497 shares of the energy producer’s stock after selling 2,622 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $2,572,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Foundation Advisors acquired a new position in ConocoPhillips in the first quarter valued at $497,000. FMR LLC lifted its holdings in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the period. Shell Asset Management Co. lifted its holdings in ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock valued at $9,845,000 after buying an additional 1,887 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock valued at $208,197,000 after buying an additional 730,325 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in ConocoPhillips by 12.5% in the first quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock valued at $10,518,000 after buying an additional 23,434 shares during the period. Institutional investors and hedge funds own 68.99% of the company’s stock.
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Several equities analysts recently issued reports on COP shares. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price objective on shares of ConocoPhillips in a report on Thursday, June 15th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.19.
Shares of ConocoPhillips (NYSE COP) traded up 1.48% during midday trading on Friday, reaching $46.51. 11,895,013 shares of the company’s stock were exchanged. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The stock’s market capitalization is $56.60 billion. The firm has a 50-day moving average of $44.48 and a 200-day moving average of $45.66.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the previous year, the company earned ($0.79) earnings per share. Analysts anticipate that ConocoPhillips will post $0.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, July 24th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.28%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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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