Crossmark Global Holdings Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,693 shares of the energy producer’s stock after selling 1,609 shares during the period. Crossmark Global Holdings Inc.’s holdings in ConocoPhillips were worth $5,786,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Neuberger Berman Group LLC lifted its holdings in shares of ConocoPhillips by 7.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock valued at $22,388,000 after acquiring an additional 20,758 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after acquiring an additional 451,104 shares in the last quarter. Cozad Asset Management Inc. lifted its holdings in shares of ConocoPhillips by 19.9% during the 4th quarter. Cozad Asset Management Inc. now owns 3,259 shares of the energy producer’s stock valued at $203,000 after acquiring an additional 540 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $47,000. Finally, CX Institutional acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $85,000. Institutional investors and hedge funds own 74.69% of the company’s stock.
A number of brokerages have commented on COP. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Credit Suisse Group lowered shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a report on Wednesday, May 1st. Piper Jaffray Companies reiterated a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. ValuEngine lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $78.20.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. The business had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same quarter in the prior year, the business posted $0.96 EPS. Sell-side analysts forecast that ConocoPhillips will post 4.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a $0.305 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.97%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
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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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