Legacy Advisors LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,820 shares of the energy producer’s stock after purchasing an additional 210 shares during the quarter. Legacy Advisors LLC’s holdings in ConocoPhillips were worth $275,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of COP. Rothschild & Co Wealth Management UK Ltd acquired a new position in ConocoPhillips in the 2nd quarter valued at $27,000. Valley National Advisers Inc. raised its position in shares of ConocoPhillips by 64.9% in the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after buying an additional 198 shares in the last quarter. Towerpoint Wealth LLC acquired a new position in ConocoPhillips during the second quarter valued at approximately $32,000. Manchester Financial Inc. acquired a new position in ConocoPhillips during the second quarter valued at approximately $34,000. Finally, AllSquare Wealth Management LLC raised its position in ConocoPhillips by 1,018.0% during the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 71.40% of the company’s stock.
COP has been the subject of a number of research analyst reports. Mizuho raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $74.00 to $80.00 in a report on Wednesday, June 26th. Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, July 17th. Barclays began coverage on ConocoPhillips in a research note on Monday, August 19th. They set an “overweight” rating and a $79.00 target price for the company. Zacks Investment Research upgraded 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 report on Thursday, July 11th. Finally, ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.50.
ConocoPhillips (NYSE:COP) last issued its quarterly 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 company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, research analysts predict that ConocoPhillips will post 3.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be paid a $0.42 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.68 annualized dividend and a dividend yield of 3.04%. ConocoPhillips’s dividend payout ratio is presently 26.93%.
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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