ConocoPhillips (COP) is Pope Asset Management LLC’s 10th Largest Position

Pope Asset Management LLC lessened its position in ConocoPhillips (NYSE:COP) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,399 shares of the energy producer’s stock after selling 1,780 shares during the quarter. ConocoPhillips comprises about 3.2% of Pope Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Pope Asset Management LLC’s holdings in ConocoPhillips were worth $4,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of ConocoPhillips by 1.9% during the 1st quarter. Prudential Financial Inc. now owns 5,143,375 shares of the energy producer’s stock worth $256,500,000 after purchasing an additional 93,430 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of ConocoPhillips by 19.5% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,428,758 shares of the energy producer’s stock worth $71,252,000 after purchasing an additional 232,700 shares during the period. Stifel Financial Corp increased its holdings in shares of ConocoPhillips by 1.8% during the 1st quarter. Stifel Financial Corp now owns 721,784 shares of the energy producer’s stock worth $35,857,000 after purchasing an additional 12,423 shares during the period. Berkeley Capital Partners LLC increased its holdings in shares of ConocoPhillips by 1.8% during the 1st quarter. Berkeley Capital Partners LLC now owns 7,293 shares of the energy producer’s stock worth $364,000 after purchasing an additional 132 shares during the period. Finally, Clinton Group Inc. bought a new position in shares of ConocoPhillips during the 1st quarter worth about $2,359,000. Hedge funds and other institutional investors own 69.87% of the company’s stock.

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday, November 1st. Barclays upped their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company upped their target price on shares of ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.59.

ConocoPhillips (NYSE:COP) opened at $51.23 on Wednesday. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $54.22. The company has a market cap of $61,318.02, a PE ratio of 2,564.50, a price-to-earnings-growth ratio of 12.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business earned ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.54 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%. ConocoPhillips’s payout ratio is -57.30%.

ILLEGAL ACTIVITY NOTICE: “ConocoPhillips (COP) is Pope Asset Management LLC’s 10th Largest Position” was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/12/06/conocophillips-cop-is-pope-asset-management-llcs-10th-largest-position.html.

About ConocoPhillips

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 five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply