Bailard Inc. grew its holdings in ConocoPhillips (NYSE:COP – Get Rating) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,071 shares of the energy producer’s stock after purchasing an additional 2,384 shares during the period. Bailard Inc.’s holdings in ConocoPhillips were worth $10,183,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bell Investment Advisors Inc bought a new position in shares of ConocoPhillips in the third quarter valued at $26,000. Lenox Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 435.6% in the fourth quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock valued at $35,000 after buying an additional 392 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of ConocoPhillips by 49.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock valued at $38,000 after buying an additional 175 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of ConocoPhillips by 128.6% in the fourth quarter. Crewe Advisors LLC now owns 711 shares of the energy producer’s stock valued at $51,000 after buying an additional 400 shares in the last quarter. Finally, Amplius Wealth Advisors LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at $53,000. Institutional investors own 78.80% of the company’s stock.
Several research firms recently weighed in on COP. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $96.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Barclays lifted their price objective on shares of ConocoPhillips from $93.00 to $131.00 in a research report on Friday, March 18th. Raymond James lifted their price objective on shares of ConocoPhillips from $120.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Finally, UBS Group cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Tuesday, February 1st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $105.79.
ConocoPhillips (NYSE:COP – Get Rating) last issued its earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.24 by $0.03. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The business’s quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 14.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 17th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, May 16th. ConocoPhillips’s payout ratio is 23.51%.
In other news, EVP Nicholas G. Olds sold 19,600 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $99.95, for a total transaction of $1,959,020.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Heather G. Sirdashney sold 5,700 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $98.71, for a total value of $562,647.00. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
ConocoPhillips Company Profile (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's 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.
- Get a free copy of the StockNews.com research report on ConocoPhillips (COP)
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