BancorpSouth Bank trimmed its holdings in ConocoPhillips (NYSE:COP) by 24.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,415 shares of the energy producer’s stock after selling 2,099 shares during the period. BancorpSouth Bank’s holdings in ConocoPhillips were worth $366,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Haverford Trust Co. lifted its holdings in ConocoPhillips by 0.4% during the 3rd quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock worth $2,552,000 after buying an additional 175 shares during the period. Smart Money Group LLC lifted its holdings in ConocoPhillips by 2.6% during the 2nd quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock worth $422,000 after buying an additional 177 shares during the period. Sandy Spring Bank lifted its holdings in ConocoPhillips by 0.3% during the 3rd quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock worth $3,075,000 after buying an additional 185 shares during the period. Liberty Capital Management Inc. lifted its holdings in ConocoPhillips by 2.0% during the 2nd quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock worth $580,000 after buying an additional 188 shares during the period. Finally, BKD Wealth Advisors LLC lifted its holdings in ConocoPhillips by 0.3% during the 2nd quarter. BKD Wealth Advisors LLC now owns 68,910 shares of the energy producer’s stock worth $4,204,000 after buying an additional 194 shares during the period. 72.32% of the stock is owned by institutional investors.
Several research analysts have commented on COP shares. Morgan Stanley cut their target price on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Goldman Sachs Group set a $67.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, October 11th. Warburg Research reissued a “neutral” rating and issued a $61.00 price objective on shares of ConocoPhillips in a research report on Friday, November 8th. HSBC reissued a “neutral” rating and issued a $59.00 price objective on shares of ConocoPhillips in a research report on Tuesday, November 5th. Finally, Deutsche Bank reissued a “buy” rating and issued a $68.00 price objective on shares of ConocoPhillips in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $69.27.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, October 29th. The energy producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The business had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same period in the previous year, the company posted $1.36 EPS. On average, analysts forecast that ConocoPhillips will post 3.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s payout ratio is currently 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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