BlackRock Advisors LLC raised its position in ConocoPhillips (NYSE:COP) by 20.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,308,889 shares of the company’s stock after buying an additional 728,716 shares during the period. BlackRock Advisors LLC owned approximately 0.35% of ConocoPhillips worth $187,867,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the last quarter. Signaturefd LLC raised its stake in shares of ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock worth $115,000 after buying an additional 383 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth about $122,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of ConocoPhillips by 75.8% in the second quarter. Chicago Partners Investment Group LLC now owns 3,033 shares of the company’s stock worth $132,000 after buying an additional 1,308 shares during the last quarter. Institutional investors and hedge funds own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at 42.18 on Thursday. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24. The stock’s market capitalization is $52.24 billion. The company’s 50-day moving average is $41.49 and its 200 day moving average is $42.63.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The business’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Equities analysts expect that ConocoPhillips will post ($2.50) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, July 25th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. ConocoPhillips’s dividend payout ratio is currently -17.57%.
A number of research analysts have recently weighed in on COP shares. Deutsche Bank AG restated a “buy” rating and set a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 16th. Bank of America Corp. restated a “buy” rating and set a $71.00 price objective on shares of ConocoPhillips in a research report on Friday, June 3rd. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, July 13th. Vetr upgraded ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price objective for the company in a research report on Monday, September 12th. Finally, Jefferies Group upgraded ConocoPhillips from an “underperform” rating to a “hold” rating and raised their price objective for the company from $30.00 to $40.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.63.
In other ConocoPhillips news, VP Ellen Desanctis bought 5,000 shares of ConocoPhillips stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti bought 6,500 shares of ConocoPhillips stock in a transaction on Monday, August 1st. The shares were acquired at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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