SignalPoint Asset Management LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,156 shares of the company’s stock after selling 8 shares during the period. SignalPoint Asset Management LLC’s holdings in ConocoPhillips were worth $1,010,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Investment Consultants LLC boosted its position in shares of ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock valued at $111,000 after buying an additional 509 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of ConocoPhillips during the second quarter valued at $122,000. Cornerstone Advisors Inc. boosted its position in shares of ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock valued at $153,000 after buying an additional 79 shares in the last quarter. MCF Advisors LLC boosted its position in shares of ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock valued at $156,000 after buying an additional 12 shares in the last quarter. Finally, Zions Bancorporation boosted its position in shares of ConocoPhillips by 8.6% in the first quarter. Zions Bancorporation now owns 3,905 shares of the company’s stock valued at $160,000 after buying an additional 309 shares in the last quarter. 63.70% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded down 0.67% on Friday, reaching $44.22. The company’s stock had a trading volume of 8,281,676 shares. The firm’s market cap is $54.77 billion. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The company’s 50 day moving average is $41.78 and its 200-day moving average is $42.72.
ConocoPhillips (NYSE:COP) last released 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. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The company’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Equities research analysts expect that ConocoPhillips will post ($2.47) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be issued a $0.25 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. ConocoPhillips’s payout ratio is currently -17.57%.
Several research analysts recently weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a research note 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. Nomura reiterated a “hold” rating and issued a $49.00 price target on shares of ConocoPhillips in a research report on Monday. 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 equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. ConocoPhillips presently has an average rating of “Hold” and an average target price of $49.10.
In other news, VP Ellen Desanctis purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $40.50 per share, with a total value of $202,500.00. Following the completion of the acquisition, the vice president now owns 22,010 shares in the company, valued at approximately $891,405. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arjun N. Murti purchased 6,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average cost of $39.72 per share, for a total transaction of $258,180.00. Following the acquisition, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by 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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