Boston Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 12.7% during the second quarter, Holdings Channel reports. The fund owned 59,616 shares of the company’s stock after selling 8,693 shares during the period. Boston Advisors LLC’s holdings in ConocoPhillips were worth $2,599,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guinness Asset Management Ltd purchased a new position in shares of ConocoPhillips during the second quarter worth $10,726,000. Strs Ohio raised its position in shares of ConocoPhillips by 1.1% in the second quarter. Strs Ohio now owns 1,004,958 shares of the company’s stock worth $43,816,000 after buying an additional 10,603 shares during the last quarter. Legal & General Group Plc raised its position in shares of ConocoPhillips by 8.9% in the first quarter. Legal & General Group Plc now owns 6,639,417 shares of the company’s stock worth $267,366,000 after buying an additional 542,800 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of ConocoPhillips by 14.5% in the second quarter. Nikko Asset Management Americas Inc. now owns 144,268 shares of the company’s stock worth $6,335,000 after buying an additional 18,300 shares during the last quarter. Finally, National Pension Service raised its position in shares of ConocoPhillips by 4.0% in the first quarter. National Pension Service now owns 681,736 shares of the company’s stock worth $27,454,000 after buying an additional 26,417 shares during the last quarter. Hedge funds and other institutional investors own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) traded down 0.44% during trading on Friday, reaching $43.47. 8,814,000 shares of the company’s stock traded hands. The company has a 50 day moving average price of $41.63 and a 200-day moving average price of $42.67. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $57.24. The company’s market cap is $53.84 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The firm earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same period last year, the company earned $0.07 EPS. The business’s quarterly revenue was down 35.6% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, July 25th were issued a $0.25 dividend. The ex-dividend date was Thursday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. ConocoPhillips’s dividend payout ratio is currently -17.57%.
Several research analysts recently commented on the company. Bank of America Corp. reiterated a “buy” rating and issued a $71.00 price target on shares of ConocoPhillips in a research report on Friday, June 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, July 13th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. Finally, Vetr lowered ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 price target for the company. in a research report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.63.
In other ConocoPhillips news, VP Ellen Desanctis bought 5,000 shares of ConocoPhillips stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti bought 6,500 shares of ConocoPhillips stock in a transaction on Monday, August 1st. The shares were acquired at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by insiders.
ConocoPhillips Company Profile
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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