Paragon Capital Management LLC lifted its position in ConocoPhillips (NYSE:COP) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,151 shares of the energy producer’s stock after buying an additional 2,367 shares during the period. ConocoPhillips makes up about 2.3% of Paragon Capital Management LLC’s portfolio, making the stock its 19th largest position. Paragon Capital Management LLC’s holdings in ConocoPhillips were worth $5,133,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of COP. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $195,526,000. Schafer Cullen Capital Management Inc grew its position in shares of ConocoPhillips by 38.0% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 2,740,409 shares of the energy producer’s stock worth $169,248,000 after buying an additional 754,411 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $43,418,000. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of ConocoPhillips by 312.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 883,125 shares of the energy producer’s stock worth $53,871,000 after buying an additional 668,847 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ConocoPhillips by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock worth $940,354,000 after buying an additional 659,942 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
COP stock traded down $1.22 during trading on Friday, reaching $51.04. The company had a trading volume of 1,384,991 shares, compared to its average volume of 6,667,007. The firm has a 50-day simple moving average of $57.33 and a 200-day simple moving average of $62.63. The company has a market cap of $57.06 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 1.76. ConocoPhillips has a twelve month low of $50.59 and a twelve month high of $80.24.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. Sell-side analysts expect that ConocoPhillips will post 4.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
COP has been the topic of a number of analyst reports. Barclays initiated coverage on shares of ConocoPhillips in a research report on Monday. They issued an “overweight” rating and a $79.00 price objective on the stock. Credit Suisse Group downgraded shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research report on Wednesday, May 1st. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.85.
ConocoPhillips Company Profile
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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