Smith Salley & Associates increased its position in shares of ConocoPhillips (NYSE:COP) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,529 shares of the company’s stock after buying an additional 5,215 shares during the period. Smith Salley & Associates’ holdings in ConocoPhillips were worth $1,723,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in COP. Quadrant Capital Group LLC increased its stake in shares of ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock valued at $109,000 after buying an additional 1,371 shares during the period. Integrated Investment Consultants LLC increased its stake 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 during the period. Signaturefd LLC increased its stake in shares of ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock valued at $115,000 after buying an additional 383 shares during the period. Cribstone Capital Management LLC purchased a new stake in shares of ConocoPhillips during the second quarter valued at about $122,000. Finally, Cornerstone Advisors Inc. increased its stake 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 during the period. Institutional investors own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) traded down 1.41% during midday trading on Tuesday, hitting $40.52. 3,445,960 shares of the company traded hands. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $57.24. The company’s market capitalization is $50.18 billion. The stock’s 50-day moving average price is $41.77 and its 200 day moving average price is $42.85.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) 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 business earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was down 35.6% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post ($2.47) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 annualized dividend and a yield of 2.43%. ConocoPhillips’s payout ratio is currently -17.57%.
Several analysts have issued reports on COP shares. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. Nomura reissued a “hold” rating and set a $49.00 target price on shares of ConocoPhillips in a research note on Monday, October 3rd. Barclays PLC reissued an “overweight” rating and set a $60.00 target price on shares of ConocoPhillips in a research note on Monday, October 10th. Vetr downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 target price on the stock. in a research note on Thursday, September 8th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of ConocoPhillips in a research note on Sunday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $49.69.
In other news, VP Ellen Desanctis acquired 5,000 shares of the stock in a transaction dated 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 purchase, the vice president now directly owns 22,010 shares of the company’s stock, valued at $891,405. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arjun N. Murti acquired 6,500 shares of the stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the purchase, the director now directly 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 company 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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