Benchmark Capital Advisors lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,650 shares of the energy producer’s stock after selling 1,400 shares during the period. Benchmark Capital Advisors’ holdings in ConocoPhillips were worth $530,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. WFG Advisors LP grew its stake in shares of ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after buying an additional 39 shares during the period. Girard Partners LTD. grew its stake in shares of ConocoPhillips by 0.6% in the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after buying an additional 49 shares during the period. First City Capital Management Inc. grew its stake in shares of ConocoPhillips by 1.4% in the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after buying an additional 75 shares during the period. Whalerock Point Partners LLC grew its stake in shares of ConocoPhillips by 1.2% in the 2nd quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after buying an additional 100 shares during the period. Finally, Waters Parkerson & CO. LLC grew its stake in shares of ConocoPhillips by 1.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock valued at $529,000 after buying an additional 125 shares during the period. 70.49% of the stock is owned by institutional investors.
Several research firms have recently weighed in on COP. Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Macquarie started coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They issued an “outperform” rating on the stock. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Barclays upped their price objective on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.53.
Shares of ConocoPhillips (COP) opened at $54.65 on Tuesday. The stock has a market cap of $65,330.00, a P/E ratio of -39.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $61.31. 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 earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. During the same period in the prior year, the business earned ($0.26) EPS. equities analysts predict that ConocoPhillips will post 2.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be issued a dividend of $0.285 per share. The ex-dividend date is Friday, February 9th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 dividend on an annualized basis and a yield of 2.09%. ConocoPhillips’s dividend payout ratio is -81.43%.
ConocoPhillips announced that its board has initiated a share buyback program on Wednesday, November 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the energy producer to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Benchmark Capital Advisors Reduces Position in ConocoPhillips (COP)” was reported 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 U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2018/02/20/benchmark-capital-advisors-reduces-position-in-conocophillips-cop.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.