SFE Investment Counsel lessened its stake in ConocoPhillips (NYSE:COP) by 10.4% during the fourth quarter, Holdings Channel reports. The firm owned 16,100 shares of the energy producer’s stock after selling 1,870 shares during the period. SFE Investment Counsel’s holdings in ConocoPhillips were worth $884,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Freestone Capital Holdings LLC boosted its holdings in shares of ConocoPhillips by 78.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock valued at $354,000 after purchasing an additional 3,543 shares during the last quarter. Point View Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 19.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after purchasing an additional 5,452 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of ConocoPhillips by 16.1% in the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock valued at $27,092,000 after purchasing an additional 85,538 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of ConocoPhillips by 32.8% in the 3rd quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock valued at $51,351,000 after purchasing an additional 253,600 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $26,376,000. Institutional investors own 70.49% of the company’s stock.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at $54.65 on Monday. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The stock has a market cap of $64,328.89, a price-to-earnings ratio of 74.86, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the firm posted ($0.26) EPS. analysts expect that ConocoPhillips will post 2.85 earnings per share for the current fiscal year.
ConocoPhillips announced that its board has initiated a stock buyback program on Wednesday, November 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the energy producer to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.09%. ConocoPhillips’s payout ratio is -228.00%.
ILLEGAL ACTIVITY NOTICE: “ConocoPhillips (COP) Shares Sold by SFE Investment Counsel” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.chaffeybreeze.com/2018/02/19/conocophillips-cop-shares-sold-by-sfe-investment-counsel.html.
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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.