UMB Bank N A MO cut its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,741 shares of the energy producer’s stock after selling 5,303 shares during the period. UMB Bank N A MO’s holdings in ConocoPhillips were worth $5,659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. grew its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares in the last quarter. First Command Bank grew its position in ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares in the last quarter. Westside Investment Management Inc. lifted its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares during the last quarter. Advantage Investment Management LLC lifted its stake in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 958 shares during the last quarter. Finally, Reilly Financial Advisors LLC lifted its stake in ConocoPhillips by 20.5% in the second quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 470 shares during the last quarter. 68.90% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE:COP) opened at 49.60 on Thursday. ConocoPhillips has a 1-year low of $40.37 and a 1-year high of $53.17. The firm’s market capitalization is $60.36 billion. The company’s 50-day moving average is $46.87 and its 200 day moving average is $46.04.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter last year, the firm posted ($0.79) EPS. On average, equities analysts expect that ConocoPhillips will post $0.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is -34.98%.
A number of analysts have issued reports on the stock. Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. reduced their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Jefferies Group LLC set a $59.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $52.00 target price on shares of ConocoPhillips in a research note on Thursday, June 22nd. Finally, Bank of America Corporation upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $54.15.
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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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