Toronto Dominion Bank grew its stake in shares of ConocoPhillips (NYSE:COP) by 20.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,036,139 shares of the energy producer’s stock after acquiring an additional 177,133 shares during the quarter. Toronto Dominion Bank’s holdings in ConocoPhillips were worth $63,525,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. bought a new position in ConocoPhillips during the first quarter valued at approximately $30,000. Joseph P. Lucia & Associates LLC bought a new position in shares of ConocoPhillips during the 2nd quarter valued at $30,000. Anfield Capital Management LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter worth $32,000. Cranbrook Wealth Management LLC boosted its stake in shares of ConocoPhillips by 142.9% in the 1st quarter. Cranbrook Wealth Management LLC now owns 629 shares of the energy producer’s stock worth $33,000 after buying an additional 370 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of ConocoPhillips by 41.0% in the first quarter. Concord Wealth Partners now owns 640 shares of the energy producer’s stock worth $34,000 after acquiring an additional 186 shares during the period. Hedge funds and other institutional investors own 78.47% of the company’s stock.
A number of equities research analysts have issued reports on COP shares. TheStreet upgraded ConocoPhillips from a “c” rating to a “b” rating in a research note on Tuesday, August 3rd. Credit Suisse Group upped their target price on shares of ConocoPhillips from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, June 23rd. Evercore ISI lifted their price target on shares of ConocoPhillips from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, June 28th. Mizuho upped their price objective on ConocoPhillips from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Finally, Sanford C. Bernstein lifted their target price on ConocoPhillips from $63.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 21st. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $70.81.
COP stock opened at $56.94 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11. The company’s fifty day moving average price is $56.17 and its 200-day moving average price is $55.98. ConocoPhillips has a one year low of $27.53 and a one year high of $63.57. The company has a market capitalization of $76.25 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.77.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, topping the consensus estimate of $1.10 by $0.17. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same quarter in the previous year, the company earned ($0.92) EPS. On average, research analysts predict that ConocoPhillips will post 4.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, July 26th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, July 23rd. ConocoPhillips’s payout ratio is presently -177.32%.
ConocoPhillips Company Profile
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.
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