Sii Investments Inc. WI lowered its position in ConocoPhillips (NYSE:COP) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,996 shares of the company’s stock after selling 4,777 shares during the period. ConocoPhillips comprises 0.9% of Sii Investments Inc. WI’s investment portfolio, making the stock its 24th largest position. Sii Investments Inc. WI’s holdings in ConocoPhillips were worth $10,948,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in COP. State Street Corp increased its stake in ConocoPhillips by 4.2% in the first quarter. State Street Corp now owns 56,542,943 shares of the company’s stock valued at $2,276,976,000 after buying an additional 2,293,983 shares during the last quarter. Ameriprise Financial Inc. increased its stake in ConocoPhillips by 16.6% in the second quarter. Ameriprise Financial Inc. now owns 12,097,088 shares of the company’s stock valued at $527,432,000 after buying an additional 1,718,788 shares during the last quarter. Rockefeller Financial Services Inc. increased its stake in ConocoPhillips by 8,313.3% in the second quarter. Rockefeller Financial Services Inc. now owns 1,393,578 shares of the company’s stock valued at $60,760,000 after buying an additional 1,377,014 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in ConocoPhillips during the second quarter valued at $46,653,000. Finally, American Century Companies Inc. increased its stake in ConocoPhillips by 452.1% in the second quarter. American Century Companies Inc. now owns 878,900 shares of the company’s stock valued at $38,320,000 after buying an additional 719,722 shares during the last quarter. 63.70% of the stock is owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded up 1.114% on Monday, hitting $40.385. The company’s stock had a trading volume of 1,117,972 shares. The company’s market cap is $50.02 billion. ConocoPhillips has a 52 week low of $31.05 and a 52 week high of $57.24. The stock’s 50 day moving average is $41.54 and its 200-day moving average is $42.58.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The business’s revenue was down 35.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. On average, equities research analysts anticipate that ConocoPhillips will post ($2.48) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, July 25th were issued a $0.25 dividend. The ex-dividend date was Thursday, July 21st. This represents a $1.00 annualized dividend and a yield of 2.50%. ConocoPhillips’s dividend payout ratio (DPR) is presently -17.57%.
Several analysts have recently weighed in on COP shares. Bank of America Corp. reissued a “buy” rating and issued a $71.00 target price on shares of ConocoPhillips in a report on Friday, June 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Jefferies Group restated 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 investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.63.
In other news, Director Arjun N. Murti bought 6,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the acquisition, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $754,680. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Ellen Desanctis bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average price 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 disclosure for this purchase can be found here. 0.07% of the stock is currently owned by corporate insiders.
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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