Twin Capital Management Inc. lowered its position in ConocoPhillips (NYSE:COP) by 31.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,440 shares of the energy producer’s stock after selling 65,970 shares during the period. Twin Capital Management Inc.’s holdings in ConocoPhillips were worth $8,750,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. WINTON GROUP Ltd boosted its stake in ConocoPhillips by 103.2% in the 2nd 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 during the period. NEXT Financial Group Inc raised its holdings in shares of ConocoPhillips by 18.1% in the 2nd quarter. NEXT Financial Group Inc now owns 15,677 shares of the energy producer’s stock valued at $956,000 after purchasing an additional 2,404 shares during the period. Highland Capital Management LLC raised its holdings in shares of ConocoPhillips by 0.8% in the 2nd quarter. Highland Capital Management LLC now owns 114,885 shares of the energy producer’s stock valued at $7,008,000 after purchasing an additional 965 shares during the period. CWM Advisors LLC raised its holdings in shares of ConocoPhillips by 11.6% in the 2nd quarter. CWM Advisors LLC now owns 30,739 shares of the energy producer’s stock valued at $1,875,000 after purchasing an additional 3,206 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in ConocoPhillips by 252.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 131,799 shares of the energy producer’s stock valued at $8,796,000 after acquiring an additional 94,355 shares during the period. Institutional investors own 73.64% of the company’s stock.
Several research firms have weighed in on COP. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus price target of $77.07.
Shares of NYSE:COP traded down $0.41 on Thursday, reaching $51.37. 210,941 shares of the company’s stock were exchanged, compared to its average volume of 6,232,874. The company’s fifty day moving average price is $58.80. ConocoPhillips has a twelve month low of $51.51 and a twelve month high of $80.24. The firm has a market cap of $58.97 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.38 and a beta of 0.99. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 4.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.37%. ConocoPhillips’s payout ratio is presently 26.93%.
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.
Further Reading: Net Income
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