Welch Group LLC lowered its position in ConocoPhillips (NYSE:COP) by 37.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,450 shares of the company’s stock after selling 2,066 shares during the period. Welch Group LLC’s holdings in ConocoPhillips were worth $150,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Acadian Asset Management LLC purchased a new position in shares of ConocoPhillips during the first quarter worth about $256,000. Vicus Capital raised its position in shares of ConocoPhillips by 112.4% in the first quarter. Vicus Capital now owns 54,254 shares of the company’s stock worth $2,185,000 after buying an additional 28,710 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of ConocoPhillips during the first quarter worth about $632,000. North Star Investment Management Corp. raised its position in shares of ConocoPhillips by 0.7% in the first quarter. North Star Investment Management Corp. now owns 39,052 shares of the company’s stock worth $1,573,000 after buying an additional 282 shares during the period. Finally, IMS Capital Management raised its position in shares of ConocoPhillips by 47.5% in the first quarter. IMS Capital Management now owns 10,236 shares of the company’s stock worth $412,000 after buying an additional 3,294 shares during the period. Institutional investors and hedge funds own 63.70% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 1.39% during trading on Thursday, reaching $44.52. 8,231,580 shares of the company traded hands. The firm has a 50-day moving average price of $41.74 and a 200-day moving average price of $42.70. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24. The firm’s market capitalization is $55.14 billion.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The company had revenue of $5.58 billion for 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 firm’s quarterly revenue was down 35.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. Equities research analysts anticipate that ConocoPhillips will post ($2.47) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. ConocoPhillips’s dividend payout ratio (DPR) is -17.57%.
COP has been the topic of a number of recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 16th. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective on the stock in a report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, July 13th. Finally, Simmons reissued a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. One equities research 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 a consensus target price of $49.10.
In other ConocoPhillips news, VP Ellen Desanctis acquired 5,000 shares of ConocoPhillips stock in a transaction dated Thursday, August 11th. The stock was bought at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the transaction, the vice president now owns 22,010 shares in the company, valued at approximately $891,405. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 6,500 shares of ConocoPhillips stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $39.72 per share, with a total value of $258,180.00. Following the transaction, the director now owns 19,000 shares in the company, valued at approximately $754,680. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
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.