Dixon Hubard Feinour & Brown Inc. VA decreased its position in ConocoPhillips (NYSE:COP) by 1.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,133 shares of the energy producer’s stock after selling 275 shares during the period. Dixon Hubard Feinour & Brown Inc. VA’s holdings in ConocoPhillips were worth $621,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in COP. Norges Bank acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $496,521,000. Wellington Management Group LLP boosted its stake in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC boosted its stake in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. State Street Corp boosted its stake in ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.
ConocoPhillips (COP) opened at 43.23 on Friday. The stock’s 50 day moving average price is $44.32 and its 200 day moving average price is $47.10. ConocoPhillips has a one year low of $38.80 and a one year high of $53.17. The stock’s market cap is $53.48 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.05. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.47 billion. ConocoPhillips had a negative net margin of 5.05% and a negative return on equity of 5.92%. During the same period last year, the business posted ($0.95) EPS. Equities analysts predict that ConocoPhillips will post $0.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -95.50%.
ConocoPhillips announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the energy producer to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of equities research analysts have recently commented on COP shares. Cowen and Company reiterated a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Scotiabank set a $53.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Monday, March 27th. Guggenheim initiated coverage on ConocoPhillips in a research note on Tuesday, April 18th. They issued a “neutral” rating on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research note on Thursday, June 15th. Finally, Jefferies Group LLC upgraded ConocoPhillips from a “hold” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $59.00 in a research note on Wednesday, May 17th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $55.56.
In related news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by company insiders.
About ConocoPhillips
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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