Ossiam lowered its position in shares of ConocoPhillips (NYSE:COP) by 87.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,225 shares of the energy producer’s stock after selling 15,173 shares during the quarter. Ossiam’s holdings in ConocoPhillips were worth $136,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its holdings in ConocoPhillips by 64.9% in the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 198 shares during the last quarter. Towerpoint Wealth LLC acquired a new position in ConocoPhillips during the second quarter worth $32,000. Manchester Financial Inc. acquired a new position in ConocoPhillips during the second quarter worth $34,000. Glassman Wealth Services lifted its stake in ConocoPhillips by 779.2% during the first quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in ConocoPhillips during the second quarter worth $45,000. Institutional investors and hedge funds own 71.56% of the company’s stock.
Shares of ConocoPhillips stock traded up $1.20 during trading hours on Friday, reaching $57.55. 3,407,305 shares of the company were exchanged, compared to its average volume of 5,719,988. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $80.24. The stock’s fifty day moving average is $54.20 and its 200 day moving average is $61.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. The firm has a market cap of $62.52 billion, a PE ratio of 12.70, a PEG ratio of 1.52 and a beta of 1.04.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 3.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, July 19th. ConocoPhillips’s dividend payout ratio is currently 26.93%.
A number of research analysts have commented on COP shares. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley decreased their price target on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, Barclays started coverage on ConocoPhillips in a research note on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $76.85.
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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