Everett Harris & Co. CA trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 27.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,527 shares of the energy producer’s stock after selling 3,924 shares during the quarter. Everett Harris & Co. CA’s holdings in ConocoPhillips were worth $463,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in COP. Financial Management Professionals Inc. raised its stake in shares of ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the period. First Command Bank raised its stake in shares of ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the period. Westside Investment Management Inc. raised its stake in shares of ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after buying an additional 2,000 shares during the period. Advantage Investment Management LLC raised its stake in shares of ConocoPhillips by 65.3% during the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after buying an additional 958 shares during the period. Finally, Reilly Financial Advisors LLC raised its stake in shares of ConocoPhillips by 20.5% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock worth $121,000 after buying an additional 470 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.
COP has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $52.00 target price on shares of ConocoPhillips in a research note on Thursday, June 22nd. BidaskClub downgraded ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Scotiabank set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Saturday, July 1st. Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $63.00 to $42.00 in a research note on Thursday, July 6th. Finally, Wolfe Research downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.15.
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ConocoPhillips (COP) opened at 49.40 on Monday. The stock’s 50 day moving average price is $47.32 and its 200-day moving average price is $46.11. ConocoPhillips has a 12-month low of $40.37 and a 12-month high of $53.17. The stock’s market capitalization is $60.12 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the firm posted ($0.79) earnings per share. Analysts expect that ConocoPhillips will post $0.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.15%. ConocoPhillips’s dividend payout ratio (DPR) is -34.98%.
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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