Moneta Group Investment Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 92.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 994 shares of the energy producer’s stock after selling 12,072 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in ConocoPhillips were worth $670,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of COP. Geode Capital Management LLC increased its stake in ConocoPhillips by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock worth $940,354,000 after acquiring an additional 659,942 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of ConocoPhillips during the first quarter worth about $489,000. Trust Co. of Vermont lifted its holdings in shares of ConocoPhillips by 1.2% in the 1st quarter. Trust Co. of Vermont now owns 29,054 shares of the energy producer’s stock valued at $1,939,000 after purchasing an additional 352 shares during the last quarter. Avitas Wealth Management LLC boosted its position in shares of ConocoPhillips by 3.5% in the 1st quarter. Avitas Wealth Management LLC now owns 42,793 shares of the energy producer’s stock valued at $2,856,000 after purchasing an additional 1,431 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of ConocoPhillips by 63.7% in the 1st quarter. Park Avenue Securities LLC now owns 14,009 shares of the energy producer’s stock valued at $948,000 after purchasing an additional 5,449 shares during the period. Hedge funds and other institutional investors own 71.56% of the company’s stock.
Several research firms have commented on COP. Morgan Stanley cut their price target on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Thursday, July 11th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $80.00 in a research note on Wednesday, June 26th. Finally, Barclays assumed coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.85.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.02). The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 3.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, July 19th. ConocoPhillips’s payout ratio is 26.93%.
ConocoPhillips Company Profile
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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