Chemical Bank decreased its position in ConocoPhillips (NYSE:COP) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,950 shares of the energy producer’s stock after selling 430 shares during the quarter. Chemical Bank’s holdings in ConocoPhillips were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently made changes to their positions in the company. Neuberger Berman Group LLC increased its stake in ConocoPhillips by 7.7% in the third quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock valued at $22,388,000 after purchasing an additional 20,758 shares in the last quarter. Vanguard Group Inc increased its stake in ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after purchasing an additional 451,104 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in shares of ConocoPhillips by 20.4% in the fourth quarter. Physicians Financial Services Inc. now owns 3,731 shares of the energy producer’s stock valued at $233,000 after buying an additional 632 shares during the period. Klingenstein Fields & Co. LLC boosted its holdings in shares of ConocoPhillips by 3.9% in the fourth quarter. Klingenstein Fields & Co. LLC now owns 294,089 shares of the energy producer’s stock valued at $18,336,000 after buying an additional 10,976 shares during the period. Finally, Kanawha Capital Management LLC boosted its holdings in shares of ConocoPhillips by 14.0% in the fourth quarter. Kanawha Capital Management LLC now owns 17,861 shares of the energy producer’s stock valued at $1,114,000 after buying an additional 2,192 shares during the period. Hedge funds and other institutional investors own 72.16% of the company’s stock.
Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $68.00 to $75.00 in a report on Thursday, March 21st. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Wednesday, March 13th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $78.36.
COP traded down $0.24 during trading hours on Friday, hitting $58.82. 3,294,609 shares of the company’s stock were exchanged, compared to its average volume of 6,715,305. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24. The stock has a market capitalization of $66.17 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.42 and a beta of 1.03. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, research analysts predict that ConocoPhillips will post 4.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.93%.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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