Family Firm Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,370 shares of the energy producer’s stock, valued at approximately $219,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP lifted its position in ConocoPhillips by 28.5% in the third quarter. Quantbot Technologies LP now owns 35,175 shares of the energy producer’s stock valued at $1,760,000 after acquiring an additional 7,803 shares during the last quarter. Putnam FL Investment Management Co. acquired a new position in ConocoPhillips in the third quarter valued at $261,000. Cambridge Investment Research Advisors Inc. increased its stake in ConocoPhillips by 10.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 134,722 shares of the energy producer’s stock valued at $6,743,000 after purchasing an additional 13,185 shares during the period. Russell Investments Group Ltd. increased its stake in ConocoPhillips by 7.0% in the third quarter. Russell Investments Group Ltd. now owns 1,094,969 shares of the energy producer’s stock valued at $54,802,000 after purchasing an additional 71,915 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in ConocoPhillips by 7.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,770,819 shares of the energy producer’s stock valued at $188,729,000 after purchasing an additional 253,957 shares during the period. 69.62% of the stock is owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (COP) opened at $54.89 on Friday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $56.37. The stock has a market cap of $65,621.88, a PE ratio of -29.67, a price-to-earnings-growth ratio of 8.75 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.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s payout ratio is -57.30%.
A number of research firms have commented on COP. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 13th. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They set a “neutral” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen 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 $55.41.
In other news, Director Charles E. Bunch acquired 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.
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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 five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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