Capital International Sarl lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 15.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,016 shares of the energy producer’s stock after purchasing an additional 4,716 shares during the quarter. Capital International Sarl’s holdings in ConocoPhillips were worth $2,342,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC raised its position in ConocoPhillips by 5.0% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,710 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 175 shares during the period. Stevens Capital Management LP raised its position in ConocoPhillips by 1.3% in the fourth quarter. Stevens Capital Management LP now owns 13,311 shares of the energy producer’s stock valued at $866,000 after purchasing an additional 176 shares during the period. Beacon Investment Advisory Services Inc. raised its position in ConocoPhillips by 2.6% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 7,078 shares of the energy producer’s stock valued at $460,000 after purchasing an additional 178 shares during the period. BerganKDV Wealth Management LLC raised its position in ConocoPhillips by 13.8% in the fourth quarter. BerganKDV Wealth Management LLC now owns 1,473 shares of the energy producer’s stock valued at $96,000 after purchasing an additional 179 shares during the period. Finally, Dumont & Blake Investment Advisors LLC raised its position in ConocoPhillips by 1.7% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 10,654 shares of the energy producer’s stock valued at $693,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 73.67% of the company’s stock.
A number of analysts have recently issued reports on the company. Raymond James dropped their target price on ConocoPhillips from $63.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. TheStreet lowered ConocoPhillips from a “b-” rating to a “c+” rating in a research report on Thursday, March 12th. Royal Bank of Canada raised ConocoPhillips from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $73.00 to $50.00 in a research report on Monday, March 16th. Cfra dropped their target price on ConocoPhillips from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, Capital One Financial assumed coverage on ConocoPhillips in a research report on Tuesday, February 11th. They set an “overweight” rating and a $70.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and an average price target of $66.05.
NYSE:COP traded up $0.46 during mid-day trading on Thursday, reaching $31.40. The stock had a trading volume of 4,906,396 shares, compared to its average volume of 16,149,939. The company has a market capitalization of $33.23 billion, a price-to-earnings ratio of 4.91, a price-to-earnings-growth ratio of 13.90 and a beta of 1.21. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $69.60. The stock’s 50 day simple moving average is $46.28 and its two-hundred day simple moving average is $56.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.40 and a quick ratio of 2.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.05). The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $7.83 billion. ConocoPhillips had a return on equity of 11.84% and a net margin of 19.60%. During the same quarter last year, the business posted $1.13 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post -0.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 14th were paid a $0.42 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 5.35%. ConocoPhillips’s dividend payout ratio (DPR) is 46.80%.
ConocoPhillips declared that its board has approved a share buyback program on Tuesday, February 4th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy producer to repurchase up to 15.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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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