Court Place Advisors LLC maintained its stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,027 shares of the energy producer’s stock at the end of the first quarter. Court Place Advisors LLC’s holdings in ConocoPhillips were worth $201,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Gemmer Asset Management LLC boosted its stake in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares during the period. Advocacy Wealth Management Services LLC boosted its stake in shares of ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the period. Finally, Crestwood Advisors Group LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $131,000. 65.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE:COP) opened at 47.48 on Friday. The stock’s market cap is $58.74 billion. The firm has a 50-day moving average of $48.06 and a 200 day moving average of $48.08. ConocoPhillips has a 1-year low of $38.80 and a 1-year high of $53.17. ConocoPhillips also was the recipient of unusually large options trading activity on Friday. Stock investors purchased 5,234 put options on the stock. This represents an increase of approximately 855% compared to the typical daily volume of 548 put options.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.05. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.47 billion. ConocoPhillips had a negative return on equity of 8.73% and a negative net margin of 14.84%. During the same quarter in the prior year, the company posted ($0.95) EPS. Equities research analysts forecast that ConocoPhillips will post $0.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.06 annualized dividend and a dividend yield of 2.23%. ConocoPhillips’s dividend payout ratio is presently -36.43%.
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A number of equities analysts have recently issued reports on COP shares. Scotiabank reissued a “buy” rating and set a $60.00 price objective on shares of ConocoPhillips in a research report on Monday, February 6th. Goldman Sachs Group Inc reissued a “positive” rating on shares of ConocoPhillips in a research report on Monday, February 6th. Royal Bank of Canada reissued a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, February 7th. TheStreet raised shares of ConocoPhillips from a “d+” rating to a “c” rating in a research report on Monday, March 6th. Finally, Credit Suisse Group AG set a $60.00 price objective on shares of ConocoPhillips and gave the stock a “neutral” rating in a research report on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.92.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through six segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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