Zeke Capital Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 100.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,435 shares of the energy producer’s stock after buying an additional 21,297 shares during the period. Zeke Capital Advisors LLC’s holdings in ConocoPhillips were worth $2,329,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. WFG Advisors LP boosted its position in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after buying an additional 39 shares during the period. First City Capital Management Inc. lifted its position in ConocoPhillips by 1.4% in the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after purchasing an additional 75 shares during the period. Waters Parkerson & CO. LLC lifted its position in ConocoPhillips by 1.0% in the second quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock worth $529,000 after purchasing an additional 125 shares during the period. Laurel Wealth Advisors Inc. lifted its position in ConocoPhillips by 1.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 8,734 shares of the energy producer’s stock worth $383,000 after purchasing an additional 130 shares during the period. Finally, North Star Asset Management Inc. lifted its position in ConocoPhillips by 3.7% in the second quarter. North Star Asset Management Inc. now owns 7,805 shares of the energy producer’s stock worth $343,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 71.27% of the company’s stock.
A number of equities research analysts have weighed in on COP shares. Morgan Stanley upped their target price on ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Cowen set a $70.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group started coverage on ConocoPhillips in a research report on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. Howard Weil downgraded ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research report on Friday, December 22nd. Finally, Barclays upped their target price on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.75.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter in the prior year, the company earned ($0.26) earnings per share. equities research analysts forecast that ConocoPhillips will post 2.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a $0.285 dividend. The ex-dividend date was Friday, February 9th. This represents a $1.14 annualized dividend and a dividend yield of 2.08%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is currently -228.00%.
ConocoPhillips declared that its board has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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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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