Mycio Wealth Partners LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 27.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,400 shares of the energy producer’s stock after selling 1,674 shares during the period. Mycio Wealth Partners LLC’s holdings in ConocoPhillips were worth $268,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in ConocoPhillips by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock valued at $940,354,000 after buying an additional 659,942 shares in the last quarter. Boenning & Scattergood Inc. increased its position in ConocoPhillips by 12.7% in the 1st quarter. Boenning & Scattergood Inc. now owns 4,461 shares of the energy producer’s stock valued at $297,000 after buying an additional 504 shares in the last quarter. Central Bank & Trust Co. increased its position in ConocoPhillips by 77.5% in the 1st quarter. Central Bank & Trust Co. now owns 3,193 shares of the energy producer’s stock valued at $213,000 after buying an additional 1,394 shares in the last quarter. Liberty Capital Management Inc. boosted its stake in ConocoPhillips by 106.7% during the 1st quarter. Liberty Capital Management Inc. now owns 9,312 shares of the energy producer’s stock valued at $621,000 after purchasing an additional 4,807 shares during the last quarter. Finally, CWM LLC boosted its stake in ConocoPhillips by 25.8% during the 1st quarter. CWM LLC now owns 5,569 shares of the energy producer’s stock valued at $372,000 after purchasing an additional 1,143 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.
ConocoPhillips stock traded down $0.02 during trading on Thursday, hitting $52.63. The stock had a trading volume of 98,176 shares, compared to its average volume of 6,623,490. ConocoPhillips has a 1 year low of $50.59 and a 1 year high of $80.24. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $57.48 and its two-hundred day moving average is $62.71. The stock has a market cap of $59.88 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $9.42 billion. During the same quarter in the previous year, the company posted $1.09 EPS. ConocoPhillips’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 4.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be issued a dividend of $0.305 per share. The ex-dividend date is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a yield of 2.32%. ConocoPhillips’s payout ratio is 26.93%.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target for the company in a research note on Thursday, July 11th. Morgan Stanley cut their price target on ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, July 17th. Credit Suisse Group downgraded 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. Finally, JPMorgan Chase & Co. cut their target price on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price 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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