Gradient Investments LLC lowered its position in ConocoPhillips (NYSE:COP – Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,934 shares of the energy producer’s stock after selling 30,745 shares during the quarter. Gradient Investments LLC’s holdings in ConocoPhillips were worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of COP. Moneta Group Investment Advisors LLC lifted its stake in ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Morgan Stanley boosted its holdings in ConocoPhillips by 26.6% during the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after acquiring an additional 3,497,750 shares during the period. Cowa LLC grew its position in ConocoPhillips by 6,475.2% during the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the last quarter. Two Sigma Investments LP increased its stake in ConocoPhillips by 794.6% in the 1st quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock worth $229,532,000 after purchasing an additional 2,054,974 shares during the period. Finally, Findlay Park Partners LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $207,728,000. 80.36% of the stock is currently owned by institutional investors.
Insider Buying and Selling at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares in the company, valued at $2,221,360.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.
ConocoPhillips Trading Down 0.7 %
ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The business had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the business posted $3.91 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 8.74 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, September 28th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, September 27th. ConocoPhillips’s dividend payout ratio (DPR) is 19.65%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. UBS Group upped their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Morgan Stanley reiterated an “overweight” rating and set a $124.00 target price on shares of ConocoPhillips in a report on Wednesday, July 19th. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, August 14th. Finally, Wolfe Research upgraded ConocoPhillips from a “peer perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Friday, July 7th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.42.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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