Van ECK Associates Corp increased its holdings in shares of ConocoPhillips (NYSE:COP) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,529 shares of the energy producer’s stock after purchasing an additional 1,633 shares during the quarter. Van ECK Associates Corp’s holdings in ConocoPhillips were worth $683,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in COP. Financial Management Professionals Inc. raised 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 worth $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank raised 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 worth $101,000 after acquiring an additional 199 shares in the last quarter. Westside Investment Management Inc. raised its position in ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares in the last quarter. Massey Quick & Co. LLC bought a new stake in ConocoPhillips during the first quarter worth $123,000. Finally, Harbour Capital Advisors LLC bought a new stake in ConocoPhillips during the first quarter worth $123,000. Institutional investors and hedge funds own 70.08% of the company’s stock.
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Several analysts have issued reports on COP shares. Citigroup Inc. dropped their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $58.00 in a research report on Friday, July 28th. Jefferies Group LLC set a $59.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 30th. Finally, BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $55.37.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the company posted ($0.66) earnings per share. research analysts anticipate that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be paid a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.10%. ConocoPhillips’s payout ratio is -57.30%.
ConocoPhillips Company Profile
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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