Chartwell Investment Partners LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 13.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 128,574 shares of the energy producer’s stock after selling 19,160 shares during the period. Chartwell Investment Partners LLC’s holdings in ConocoPhillips were worth $5,403,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of COP. BlackRock Inc. raised its holdings in ConocoPhillips by 8.6% in the first quarter. BlackRock Inc. now owns 86,102,053 shares of the energy producer’s stock worth $2,651,945,000 after buying an additional 6,842,989 shares during the last quarter. State Street Corp increased its holdings in ConocoPhillips by 5.3% in the 1st quarter. State Street Corp now owns 53,080,153 shares of the energy producer’s stock worth $1,634,869,000 after buying an additional 2,693,223 shares in the last quarter. Capital International Investors lifted its stake in ConocoPhillips by 41.4% during the 1st quarter. Capital International Investors now owns 25,605,628 shares of the energy producer’s stock valued at $788,651,000 after acquiring an additional 7,497,157 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in ConocoPhillips by 999.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 16,516,842 shares of the energy producer’s stock valued at $508,719,000 after acquiring an additional 15,014,026 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 16,465,017 shares of the energy producer’s stock valued at $506,128,000 after acquiring an additional 91,973 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:COP opened at $37.39 on Friday. The stock has a market capitalization of $40.10 billion, a price-to-earnings ratio of 18.42 and a beta of 1.69. ConocoPhillips has a 52 week low of $20.84 and a 52 week high of $67.13. The company has a quick ratio of 2.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $41.34 and a 200 day moving average of $44.25.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 30th. The energy producer reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.34). The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.19 billion. ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. During the same period in the previous year, the business earned $1.01 EPS. As a group, analysts expect that ConocoPhillips will post -0.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, July 20th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.49%. The ex-dividend date is Friday, July 17th. ConocoPhillips’s dividend payout ratio is presently 46.80%.
In related news, Director David Thomas Seaton acquired 2,400 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $41.03 per share, with a total value of $98,472.00. Following the completion of the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at $102,575. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.
Several equities research analysts recently issued reports on COP shares. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and raised their target price for the stock from $43.00 to $46.00 in a report on Friday, May 1st. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Monday, July 6th. Mizuho upped their price objective on ConocoPhillips from $37.00 to $46.00 in a research report on Friday, June 19th. Susquehanna Bancshares raised their target price on ConocoPhillips from $40.00 to $50.00 in a research report on Friday, May 1st. Finally, SunTrust Banks initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 23rd. They set a “buy” rating and a $51.00 price target for the company. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $56.25.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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