Tompkins Financial Corp lessened its holdings in ConocoPhillips (NYSE:COP) by 35.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,993 shares of the energy producer’s stock after selling 1,650 shares during the quarter. Tompkins Financial Corp’s holdings in ConocoPhillips were worth $126,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of COP. Pearl River Capital LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $26,000. Bay Harbor Wealth Management LLC increased its holdings in shares of ConocoPhillips by 3,096.2% in the first quarter. Bay Harbor Wealth Management LLC now owns 831 shares of the energy producer’s stock valued at $26,000 after purchasing an additional 805 shares during the period. Lenox Wealth Advisors LLC raised its stake in ConocoPhillips by 2,105.6% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 794 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 758 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $34,000. Finally, Capital Square LLC purchased a new position in ConocoPhillips in the first quarter valued at approximately $38,000. Institutional investors own 72.29% of the company’s stock.
COP has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price target on ConocoPhillips from $37.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Wells Fargo & Co boosted their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Raymond James raised their target price on ConocoPhillips from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Royal Bank of Canada restated a “buy” rating on shares of ConocoPhillips in a report on Monday, July 6th. Finally, Piper Sandler raised their price objective on ConocoPhillips from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $56.25.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 30th. The energy producer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.34). The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.19 billion. ConocoPhillips had a net margin of 8.49% and a return on equity of 3.72%. During the same period last year, the firm posted $1.01 EPS. Research analysts anticipate that ConocoPhillips will post -0.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.68 annualized dividend and a dividend yield of 4.49%. ConocoPhillips’s dividend payout ratio is presently 46.80%.
In other ConocoPhillips news, Director David Thomas Seaton purchased 2,400 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $41.03 per share, with a total value of $98,472.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $102,575. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.
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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