Coastline Trust Co acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,362 shares of the energy producer’s stock, valued at approximately $225,000.
Several other large investors also recently added to or reduced their stakes in the company. Foster & Motley Inc. increased its position in shares of ConocoPhillips by 12.2% during the first quarter. Foster & Motley Inc. now owns 8,123 shares of the energy producer’s stock worth $250,000 after purchasing an additional 882 shares in the last quarter. HNP Capital LLC increased its holdings in shares of ConocoPhillips by 87.9% in the first quarter. HNP Capital LLC now owns 12,904 shares of the energy producer’s stock valued at $428,000 after purchasing an additional 6,038 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of ConocoPhillips by 43.3% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 12,251 shares of the energy producer’s stock valued at $377,000 after purchasing an additional 3,700 shares during the period. Shufro Rose & Co. LLC grew its holdings in ConocoPhillips by 29.4% during the first quarter. Shufro Rose & Co. LLC now owns 23,775 shares of the energy producer’s stock worth $732,000 after acquiring an additional 5,400 shares during the period. Finally, Accurate Investment Solutions Inc. grew its holdings in ConocoPhillips by 80.5% during the first quarter. Accurate Investment Solutions Inc. now owns 6,374 shares of the energy producer’s stock worth $196,000 after acquiring an additional 2,843 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on COP shares. UBS Group increased their price target on ConocoPhillips from $50.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Argus raised their target price on ConocoPhillips from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Raymond James raised their target price on ConocoPhillips from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Morgan Stanley raised their target price on ConocoPhillips from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday. Finally, MKM Partners raised their target price on ConocoPhillips from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.65.
Shares of COP stock traded down $0.55 on Friday, reaching $38.22. 125,099 shares of the stock were exchanged, compared to its average volume of 6,785,550. The stock has a market cap of $42.52 billion, a P/E ratio of 19.10 and a beta of 1.64. The company has a quick ratio of 2.45, a current ratio of 2.69 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $39.88 and a two-hundred day moving average of $41.80. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $67.13.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 30th. The energy producer reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.34). The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.19 billion. ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. During the same quarter in the previous year, the company earned $1.01 earnings per share. On average, equities research analysts predict that ConocoPhillips will post -0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.40%. ConocoPhillips’s payout ratio is 46.80%.
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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