Investment Centers of America Inc. decreased its stake in ConocoPhillips (NYSE:COP) by 40.1% during the second quarter, Holdings Channel reports. The fund owned 33,366 shares of the company’s stock after selling 22,308 shares during the period. Investment Centers of America Inc.’s holdings in ConocoPhillips were worth $1,441,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Pioneer Investment Management Inc. boosted its stake in ConocoPhillips by 1.1% in the fourth quarter. Pioneer Investment Management Inc. now owns 55,375 shares of the company’s stock valued at $2,585,000 after buying an additional 576 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in ConocoPhillips during the first quarter valued at $256,000. Manning & Napier Advisors LLC acquired a new stake in ConocoPhillips during the first quarter valued at $2,238,000. Quotient Investors LLC boosted its stake in ConocoPhillips by 41.6% in the first quarter. Quotient Investors LLC now owns 34,267 shares of the company’s stock valued at $1,380,000 after buying an additional 10,059 shares during the last quarter. Finally, TNB Financial boosted its stake in ConocoPhillips by 21.4% in the first quarter. TNB Financial now owns 23,408 shares of the company’s stock valued at $943,000 after buying an additional 4,126 shares during the last quarter. Hedge funds and other institutional investors own 63.70% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 1.13% during mid-day trading on Monday, hitting $40.39. The stock had a trading volume of 1,121,008 shares. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $57.24. The company has a 50 day moving average price of $41.54 and a 200 day moving average price of $42.58. The firm’s market cap is $50.02 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by $0.18. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. ConocoPhillips’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. Equities analysts forecast that ConocoPhillips will post ($2.48) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were given a $0.25 dividend. The ex-dividend date was Thursday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. ConocoPhillips’s dividend payout ratio is currently -17.57%.
COP has been the subject of several recent analyst reports. Bank of America Corp. restated a “buy” rating and set a $71.00 target price on shares of ConocoPhillips in a research note on Friday, June 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research note on Thursday, June 16th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Monday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. ConocoPhillips presently has an average rating of “Hold” and a consensus price target of $48.63.
In related news, Director Arjun N. Murti purchased 6,500 shares of ConocoPhillips stock in a transaction on Monday, August 1st. The stock was bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at $754,680. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ellen Desanctis purchased 5,000 shares of ConocoPhillips stock in a transaction on Thursday, August 11th. The stock was bought at an average cost of $40.50 per share, with a total value of $202,500.00. Following the transaction, the vice president now directly owns 22,010 shares of the company’s stock, valued at $891,405. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company insiders.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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