Citizens Financial Group Inc RI reduced its position in ConocoPhillips (NYSE:COP) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,928 shares of the energy producer’s stock after selling 3,988 shares during the period. Citizens Financial Group Inc RI’s holdings in ConocoPhillips were worth $9,097,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the last quarter. First Command Bank increased its holdings 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 valued at $101,000 after acquiring an additional 199 shares during the last quarter. Westside Investment Management Inc. increased its holdings 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 valued at $119,000 after acquiring an additional 2,000 shares during the last quarter. Advantage Investment Management LLC increased its holdings 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 valued at $121,000 after acquiring an additional 958 shares during the last quarter. Finally, Reilly Financial Advisors LLC increased its holdings 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 valued at $121,000 after acquiring an additional 470 shares during the last quarter. 70.17% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on COP shares. Jefferies Group LLC set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 29th. Barclays PLC increased their price objective on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Hold” and a consensus price target of $55.37.
Shares of ConocoPhillips (COP) opened at $52.99 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The company has a market capitalization of $63,995.97, a P/E ratio of 2,676.50, a price-to-earnings-growth ratio of 13.86 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned ($0.66) EPS. sell-side analysts expect that ConocoPhillips will post 0.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.00%. ConocoPhillips’s dividend payout ratio is currently -57.30%.
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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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