Bank of Hawaii boosted its stake in ConocoPhillips (NYSE:COP) by 16.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,438 shares of the energy producer’s stock after buying an additional 6,224 shares during the period. Bank of Hawaii’s holdings in ConocoPhillips were worth $2,216,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Gemmer Asset Management LLC increased its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the last quarter. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares during the last quarter. Advocacy Wealth Management Services LLC increased its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares during the last quarter. Advantage Investment Management LLC increased its position in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after buying an additional 958 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $131,000. Institutional investors own 68.68% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 0.83% during trading on Wednesday, hitting $43.55. The company had a trading volume of 1,439,598 shares. The stock’s 50-day moving average is $44.06 and its 200 day moving average is $46.21. The firm’s market capitalization is $53.00 billion. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the prior year, the business posted ($0.79) EPS. Equities research analysts predict that ConocoPhillips will post $0.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -34.98%.
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Several analysts have issued reports on COP shares. BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research report on Friday, May 5th. Finally, ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $55.18.
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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