Cadence Bank NA lowered its position in shares of ConocoPhillips (NYSE:COP) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,135 shares of the energy producer’s stock after selling 318 shares during the quarter. Cadence Bank NA’s holdings in ConocoPhillips were worth $1,877,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc raised its holdings in ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after buying an additional 451,104 shares during the last quarter. Advisor Partners LLC grew its position in ConocoPhillips by 18.9% during the 4th quarter. Advisor Partners LLC now owns 35,302 shares of the energy producer’s stock valued at $2,201,000 after purchasing an additional 5,602 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in ConocoPhillips by 8.9% during the 4th quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 185,549 shares of the energy producer’s stock valued at $11,579,000 after purchasing an additional 15,114 shares during the last quarter. Mechanics Bank Trust Department grew its position in ConocoPhillips by 2.4% during the 4th quarter. Mechanics Bank Trust Department now owns 22,615 shares of the energy producer’s stock valued at $1,410,000 after purchasing an additional 528 shares during the last quarter. Finally, Hayden Royal LLC bought a new position in ConocoPhillips during the 4th quarter valued at about $674,000. Hedge funds and other institutional investors own 72.09% of the company’s stock.
Shares of NYSE COP traded up $2.98 during mid-day trading on Wednesday, reaching $62.75. 9,088,936 shares of the company’s stock were exchanged, compared to its average volume of 6,691,688. The firm has a market capitalization of $68.40 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24. The stock’s 50-day moving average is $60.29.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. During the same period in the prior year, the business posted $0.96 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 4.22 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.93%.
COP has been the topic of several recent research reports. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $74.00 to $80.00 in a research note on Wednesday. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research note on Wednesday, May 1st. Morgan Stanley raised their target price on shares of ConocoPhillips from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.21.
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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