Montgomery Investment Management Inc. cut its position in shares of ConocoPhillips (NYSE:COP) by 0.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,721 shares of the energy producer’s stock after selling 60 shares during the period. ConocoPhillips comprises 3.0% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 10th largest position. Montgomery Investment Management Inc.’s holdings in ConocoPhillips were worth $6,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in COP. Heritage Trust Co acquired a new position in shares of ConocoPhillips during the first quarter worth $1,036,000. Buckingham Asset Management LLC boosted its position in shares of ConocoPhillips by 43.3% in the first quarter. Buckingham Asset Management LLC now owns 8,505 shares of the energy producer’s stock worth $424,000 after buying an additional 2,568 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of ConocoPhillips by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 149,823 shares of the energy producer’s stock worth $7,472,000 after buying an additional 2,745 shares during the period. Smith Moore & CO. boosted its position in shares of ConocoPhillips by 1.7% in the first quarter. Smith Moore & CO. now owns 6,401 shares of the energy producer’s stock worth $319,000 after buying an additional 105 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of ConocoPhillips by 20.2% in the first quarter. State of Wisconsin Investment Board now owns 1,273,022 shares of the energy producer’s stock worth $63,486,000 after buying an additional 213,669 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at 45.26 on Monday. The company’s 50 day moving average is $44.27 and its 200-day moving average is $46.83. The company’s market capitalization is $55.08 billion. ConocoPhillips has a 52 week low of $38.80 and a 52 week high of $53.17.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative return on equity of 2.75% and a negative net margin of 12.29%. During the same quarter in the prior year, the business earned ($0.79) earnings per share. On average, analysts expect that ConocoPhillips will post $0.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s payout ratio is presently -34.98%.
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Several research analysts have commented on COP shares. Instinet reiterated a “neutral” rating and set a $54.00 price target on shares of ConocoPhillips in a report on Monday, April 3rd. Scotiabank set a $57.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, April 6th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Guggenheim initiated coverage on shares of ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating for the company. Finally, Jefferies Group LLC restated a “hold” rating and issued a $55.00 target price on shares of ConocoPhillips in a report on Friday, May 5th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.
ConocoPhillips Company Profile
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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