Trutina Financial LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the second quarter, Holdings Channel reports. The institutional investor bought 24,318 shares of the company’s stock, valued at approximately $1,060,000. ConocoPhillips comprises about 1.3% of Trutina Financial LLC’s holdings, making the stock its 29th largest position.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Integrated Investment Consultants LLC increased its position in 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. Cribstone Capital Management LLC acquired a new position in ConocoPhillips during the second quarter worth about $122,000. Cornerstone Advisors Inc. increased its position in ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock worth $153,000 after buying an additional 79 shares during the last quarter. MCF Advisors LLC increased its position in ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock worth $156,000 after buying an additional 12 shares during the last quarter. Finally, Zions Bancorporation increased its position in ConocoPhillips by 8.6% in the first quarter. Zions Bancorporation now owns 3,905 shares of the company’s stock worth $160,000 after buying an additional 309 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded down 2.63% during midday trading on Friday, reaching $39.94. The company’s stock had a trading volume of 8,530,040 shares. The firm has a 50-day moving average of $41.54 and a 200-day moving average of $42.58. The stock’s market cap is $49.47 billion. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the firm posted $0.07 earnings per share. ConocoPhillips’s quarterly revenue was down 35.6% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post ($2.48) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, July 21st. ConocoPhillips’s dividend payout ratio (DPR) is presently -17.57%.
A number of analysts have recently commented on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 16th. Bank of America Corp. reaffirmed a “buy” rating and issued a $71.00 price target on shares of ConocoPhillips in a research note on Friday, June 3rd. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, July 13th. Vetr raised ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price target for the company in a research note on Monday, September 12th. Finally, Jefferies Group raised ConocoPhillips from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $40.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. ConocoPhillips currently has an average rating of “Hold” and an average price target of $48.63.
In other ConocoPhillips news, VP Ellen Desanctis purchased 5,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $40.50 per share, with a total value of $202,500.00. Following the completion of the purchase, the vice president now owns 22,010 shares in the company, valued at $891,405. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti purchased 6,500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the purchase, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company 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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.