Cobalt Capital Management Inc. bought a new position in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 67,000 shares of the energy producer’s stock, valued at approximately $3,341,000.
A number of other institutional investors have also recently made changes to their positions in the stock. BKD Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 6.1% in the first quarter. BKD Wealth Advisors LLC now owns 63,148 shares of the energy producer’s stock worth $3,149,000 after buying an additional 3,622 shares during the period. Prospera Financial Services Inc boosted its position in shares of ConocoPhillips by 50.1% in the first quarter. Prospera Financial Services Inc now owns 14,531 shares of the energy producer’s stock worth $723,000 after buying an additional 4,853 shares during the period. Alpha Windward LLC boosted its position in shares of ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock worth $277,000 after buying an additional 52 shares during the period. Banced Corp boosted its position in shares of ConocoPhillips by 1.1% in the first quarter. Banced Corp now owns 16,419 shares of the energy producer’s stock worth $819,000 after buying an additional 183 shares during the period. Finally, TNB Financial purchased a new position in shares of ConocoPhillips during the first quarter worth approximately $1,336,000. Institutional investors own 68.84% of the company’s stock.
ConocoPhillips (COP) traded down 0.40% on Friday, reaching $44.79. The company had a trading volume of 4,206,885 shares. The stock has a 50 day moving average of $44.17 and a 200 day moving average of $46.50. The firm’s market capitalization is $54.51 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. On average, analysts anticipate that ConocoPhillips will post $0.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 2.37%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s payout ratio is currently -34.98%.
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A number of equities research analysts have issued reports on the company. Guggenheim assumed coverage on ConocoPhillips in a research report on Tuesday, April 18th. They issued a “neutral” rating on the stock. Cowen and Company reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Bank of America Corporation lowered ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $67.00 in a research report on Thursday, May 11th. Jefferies Group LLC raised ConocoPhillips from a “hold” rating to a “buy” rating and increased their price target for the company from $55.00 to $59.00 in a research report on Wednesday, May 17th. Finally, BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the company’s 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 legal filing with the SEC, which is available at this hyperlink. 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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