Stephens Inc. AR lessened its position in shares of ConocoPhillips (NYSE:COP) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,175 shares of the energy producer’s stock after selling 2,191 shares during the period. Stephens Inc. AR’s holdings in ConocoPhillips were worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of COP. Manchester Financial Inc. bought a new position in ConocoPhillips in the 2nd quarter valued at approximately $34,000. Destination Wealth Management lifted its stake in ConocoPhillips by 592.6% in the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock valued at $37,000 after purchasing an additional 480 shares during the last quarter. Glassman Wealth Services lifted its stake in ConocoPhillips by 779.2% in the 1st quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 561 shares during the last quarter. Ellis Investment Partners LLC bought a new position in ConocoPhillips in the 1st quarter valued at approximately $43,000. Finally, Lipe & Dalton bought a new position in ConocoPhillips in the 2nd quarter valued at approximately $53,000. 73.64% of the stock is owned by institutional investors.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. 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 research note on Wednesday, May 1st. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $77.07.
ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.02). The business had revenue of $8.38 billion during 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%. ConocoPhillips’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be paid a $0.305 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.22 annualized dividend and a dividend yield of 2.37%. 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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