Cigna Investments Inc. New acquired a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, Holdings Channel reports. The fund acquired 45,584 shares of the company’s stock, valued at approximately $2,286,000.
A number of other large investors have also recently made changes to their positions in the stock. Princeton Portfolio Strategies Group LLC boosted its stake in shares of ConocoPhillips by 1.7% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 8,434 shares of the company’s stock worth $423,000 after buying an additional 143 shares during the period. Congress Asset Management Co. MA purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $6,588,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of ConocoPhillips by 0.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 230,408 shares of the company’s stock worth $11,484,000 after buying an additional 1,611 shares during the period. HCR Wealth Advisors purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $828,000. Finally, Guggenheim Capital LLC boosted its stake in shares of ConocoPhillips by 8.5% in the fourth quarter. Guggenheim Capital LLC now owns 891,907 shares of the company’s stock worth $44,719,000 after buying an additional 69,754 shares during the period. 65.39% of the stock is owned by hedge funds and other institutional investors.
ConocoPhillips (NYSE:COP) opened at 44.10 on Monday. ConocoPhillips has a 52-week low of $38.19 and a 52-week high of $53.17. The stock’s market cap is $54.50 billion. The firm has a 50-day moving average price of $47.45 and a 200 day moving average price of $46.37.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.16. ConocoPhillips had a negative return on equity of 8.73% and a negative net margin of 14.84%. During the same period last year, the company posted ($0.90) earnings per share. On average, analysts forecast that ConocoPhillips will post $0.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 14th were given a $0.265 dividend. The ex-dividend date of this dividend was Friday, February 10th. This represents a $1.06 annualized dividend and a dividend yield of 2.40%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.25. ConocoPhillips’s dividend payout ratio is currently -36.43%.
A number of brokerages have commented on COP. TheStreet raised ConocoPhillips from a “d+” rating to a “c” rating in a research note on Monday, March 6th. Royal Bank of Canada reissued a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, February 7th. Goldman Sachs Group Inc reissued a “positive” rating on shares of ConocoPhillips in a research note on Monday, February 6th. Scotiabank reissued a “buy” rating and issued a $60.00 price objective on shares of ConocoPhillips in a research note on Monday, February 6th. Finally, Wells Fargo & Co reissued an “outperform” rating on shares of ConocoPhillips in a research note on Saturday, January 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus target price of $56.81.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through six segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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