Parkside Financial Bank & Trust grew its position in ConocoPhillips (NYSE:COP) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,431 shares of the energy producer’s stock after purchasing an additional 1,037 shares during the period. Parkside Financial Bank & Trust’s holdings in ConocoPhillips were worth $594,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild & Co Wealth Management UK Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter worth about $27,000. Valley National Advisers Inc. boosted its holdings in 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 purchasing an additional 198 shares during the period. Manchester Financial Inc. bought a new position in ConocoPhillips in the 2nd quarter valued at $34,000. AllSquare Wealth Management LLC boosted its holdings in ConocoPhillips by 1,018.0% in the 2nd 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 during the period. Finally, Prestige Wealth Management Group LLC bought a new position in ConocoPhillips in the 2nd quarter valued at $38,000. 71.45% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on COP shares. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. Goldman Sachs Group set a $67.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Friday, October 11th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, July 17th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, HSBC reaffirmed a “neutral” rating and set a $59.00 price objective on shares of ConocoPhillips in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $69.81.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, October 29th. The energy producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same quarter last year, the company earned $1.36 EPS. Equities analysts anticipate that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, October 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.09%.
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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