Seaward Management Limited Partnership increased its stake in shares of ConocoPhillips (NYSE:COP) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 78,934 shares of the company’s stock after buying an additional 200 shares during the period. Seaward Management Limited Partnership’s holdings in ConocoPhillips were worth $3,441,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in COP. Pioneer Investment Management Inc. boosted its stake in shares of ConocoPhillips by 1.1% in the fourth quarter. Pioneer Investment Management Inc. now owns 55,375 shares of the company’s stock valued at $2,585,000 after buying an additional 576 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at $256,000. Eastern Bank boosted its stake in shares of ConocoPhillips by 25.4% in the first quarter. Eastern Bank now owns 309,314 shares of the company’s stock valued at $12,456,000 after buying an additional 62,733 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of ConocoPhillips during the first quarter valued at $2,996,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at $2,238,000. Hedge funds and other institutional investors own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) traded down 2.63% during mid-day trading on Friday, hitting $39.94. The stock had a trading volume of 8,530,040 shares. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24. The stock’s market cap is $49.47 billion. The stock’s 50-day moving average price is $41.54 and its 200-day moving average price is $42.58.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was down 35.6% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post ($2.48) earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. ConocoPhillips’s payout ratio is currently -17.57%.
COP has been the topic of several analyst reports. Bank of America Corp. reiterated a “buy” rating and set a $71.00 price target on shares of ConocoPhillips in a research report on Friday, June 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.63.
In related news, Director Arjun N. Murti acquired 6,500 shares of the stock in a transaction dated Monday, August 1st. The shares were purchased at an average cost of $39.72 per share, with a total value of $258,180.00. Following the transaction, the director now directly owns 19,000 shares in the company, valued at $754,680. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Ellen Desanctis acquired 5,000 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 22,010 shares in the company, valued at $891,405. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
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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