Gamco Investors INC. ET AL trimmed its stake in ConocoPhillips (NYSE:COP) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,619 shares of the energy producer’s stock after selling 1,200 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ConocoPhillips were worth $1,517,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. IFM Investors Pty Ltd grew its holdings in ConocoPhillips by 52.2% in the third quarter. IFM Investors Pty Ltd now owns 122,827 shares of the energy producer’s stock worth $6,999,000 after purchasing an additional 42,105 shares during the period. Wedge Capital Management L L P NC grew its holdings in ConocoPhillips by 14.1% in the third quarter. Wedge Capital Management L L P NC now owns 310,693 shares of the energy producer’s stock worth $17,703,000 after purchasing an additional 38,508 shares during the period. Sandy Spring Bank grew its holdings in ConocoPhillips by 0.3% in the third quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock worth $3,075,000 after purchasing an additional 185 shares during the period. BB&T Corp grew its holdings in ConocoPhillips by 1.9% in the third quarter. BB&T Corp now owns 83,637 shares of the energy producer’s stock worth $4,765,000 after purchasing an additional 1,596 shares during the period. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of ConocoPhillips by 56.2% during the third quarter. Clear Harbor Asset Management LLC now owns 6,113 shares of the energy producer’s stock valued at $348,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
A number of brokerages have recently issued reports on COP. Warburg Research reiterated a “neutral” rating and set a $61.00 price objective on shares of ConocoPhillips in a report on Friday. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank reiterated a “buy” rating and set a $68.00 price objective on shares of ConocoPhillips in a report on Tuesday, November 5th. Goldman Sachs Group set a $67.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $69.81.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The business had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $7.06 billion. During the same period in the previous year, the company earned $1.36 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a yield of 2.84%. ConocoPhillips’s payout ratio is 37.09%.
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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