Huber Capital Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 20.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,000 shares of the energy producer’s stock after selling 15,300 shares during the quarter. Huber Capital Management LLC’s holdings in ConocoPhillips were worth $3,348,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC lifted its stake in shares of ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the last quarter. Clear Perspective Advisors LLC lifted its stake in shares of ConocoPhillips by 75.5% in the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Truewealth LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $138,000. 71.27% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE COP) opened at $54.74 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $61.31. The firm has a market capitalization of $64,672.27, a PE ratio of 75.43, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33.
ConocoPhillips announced that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the energy producer to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.08%. ConocoPhillips’s dividend payout ratio is -228.00%.
COP has been the topic of several recent analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. Cowen set a $70.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, December 13th. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Citigroup increased their target price on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $58.75.
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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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