LS Investment Advisors LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 46,319 shares of the company’s stock after buying an additional 1,011 shares during the period. LS Investment Advisors LLC’s holdings in ConocoPhillips were worth $2,020,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in shares of ConocoPhillips by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 457,168 shares of the company’s stock valued at $19,933,000 after buying an additional 7,636 shares in the last quarter. Legal & General Group Plc increased its stake 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 valued at $267,366,000 after buying an additional 542,800 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake 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 valued at $6,335,000 after buying an additional 18,300 shares in the last quarter. National Pension Service increased its stake in shares of ConocoPhillips by 4.0% in the first quarter. National Pension Service now owns 681,736 shares of the company’s stock valued at $27,454,000 after buying an additional 26,417 shares in the last quarter. Finally, Physicians Financial Services Inc. increased its stake in shares of ConocoPhillips by 6.2% in the second quarter. Physicians Financial Services Inc. now owns 12,001 shares of the company’s stock valued at $523,000 after buying an additional 698 shares in the last quarter. Institutional investors own 63.70% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded down 0.67% during midday trading on Friday, reaching $44.22. 8,281,676 shares of the company’s stock traded hands. The firm’s market capitalization is $54.77 billion. The stock’s 50-day moving average price is $41.80 and its 200 day moving average price is $42.73. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate 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 was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. On average, equities research analysts expect that ConocoPhillips will post ($2.47) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s dividend payout ratio is currently -17.57%.
Several analysts have recently commented on COP shares. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Monday, September 12th. Nomura reiterated a “hold” rating and issued a $49.00 target price on shares of ConocoPhillips in a report on Monday, October 3rd. Vetr upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 target price for the company in a report on Monday, September 12th. Simmons reiterated a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of ConocoPhillips in a report on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Hold” and a consensus price target of $49.10.
In related news, Director Arjun N. Murti bought 6,500 shares of the 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 purchase, the director now owns 19,000 shares of the company’s stock, valued at $754,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Ellen Desanctis bought 5,000 shares of the stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
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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