Westpac Banking Corp increased its stake in shares of ConocoPhillips (NYSE:COP) by 57.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,321 shares of the company’s stock after buying an additional 30,569 shares during the period. Westpac Banking Corp’s holdings in ConocoPhillips were worth $3,524,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of COP. Narwhal Capital Management boosted its stake in shares of ConocoPhillips by 99.5% in the first quarter. Narwhal Capital Management now owns 19,645 shares of the company’s stock valued at $791,000 after buying an additional 9,800 shares during the last quarter. V Wealth Management LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at about $437,000. Private Trust Co. NA boosted its stake in shares of ConocoPhillips by 1.5% in the first quarter. Private Trust Co. NA now owns 17,488 shares of the company’s stock valued at $704,000 after buying an additional 253 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of ConocoPhillips during the first quarter valued at about $777,000. Finally, Country Trust Bank boosted its stake in shares of ConocoPhillips by 0.4% in the first quarter. Country Trust Bank now owns 353,036 shares of the company’s stock valued at $14,217,000 after buying an additional 1,279 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) traded down 1.45% on Tuesday, reaching $39.44. The company had a trading volume of 941,480 shares. The firm’s market capitalization is $48.85 billion. The stock has a 50 day moving average of $41.52 and a 200 day moving average of $42.65. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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 firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s quarterly revenue was down 35.6% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post ($2.48) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were paid a dividend of $0.25 per share. 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 payout ratio is currently -17.57%.
COP has been the subject of a number of research analyst reports. Bank of America Corp. reiterated a “buy” rating and set a $71.00 price target on shares of ConocoPhillips in a 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 report on Thursday, June 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. Finally, Vetr cut ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 price target for the company. in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. ConocoPhillips has a consensus rating of “Hold” and a consensus price target of $48.63.
In other news, Director Arjun N. Murti acquired 6,500 shares of the business’s stock in a transaction 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 completion of the purchase, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $754,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ellen Desanctis acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now directly owns 22,010 shares of the company’s stock, valued at $891,405. The disclosure for this purchase can be found here. Company 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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