Courier Capital LLC cut its position in ConocoPhillips (NYSE:COP) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,454 shares of the energy producer’s stock after selling 1,609 shares during the quarter. Courier Capital LLC’s holdings in ConocoPhillips were worth $393,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. grew its holdings in shares of ConocoPhillips by 10.2% during the second quarter. Macquarie Group Ltd. now owns 16,234,506 shares of the energy producer’s stock valued at $682,029,000 after buying an additional 1,504,864 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,839,237 shares of the energy producer’s stock valued at $497,484,000 after buying an additional 702,457 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in ConocoPhillips by 0.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,820,664 shares of the energy producer’s stock valued at $370,644,000 after buying an additional 31,946 shares in the last quarter. Morgan Stanley lifted its holdings in ConocoPhillips by 12.9% during the 1st quarter. Morgan Stanley now owns 7,768,082 shares of the energy producer’s stock valued at $239,258,000 after buying an additional 887,883 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in ConocoPhillips by 5.1% during the 2nd quarter. Fisher Asset Management LLC now owns 4,802,772 shares of the energy producer’s stock valued at $201,813,000 after buying an additional 232,288 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.
COP stock opened at $37.35 on Tuesday. The firm’s fifty day simple moving average is $32.61 and its 200-day simple moving average is $38.28. The company has a market capitalization of $40.85 billion, a P/E ratio of -33.70 and a beta of 1.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $67.13.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 29th. The energy producer reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.01). ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post -0.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, October 19th will be paid a $0.43 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, October 16th. ConocoPhillips’s payout ratio is currently 47.91%.
A number of equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on shares of ConocoPhillips from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.62 to $44.00 in a report on Monday, November 2nd. Wells Fargo & Company reiterated a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, September 15th. Finally, Raymond James boosted their price objective on shares of ConocoPhillips from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average price target of $54.46.
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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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