Oppenheimer Asset Management Inc. acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent filing with the SEC. The institutional investor acquired 236,267 shares of the energy producer’s stock, valued at approximately $11,783,000.
Several other hedge funds have also recently made changes to their positions in COP. Wellington Management Group LLP increased its stake in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC increased its stake in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after buying an additional 1,744,860 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock valued at $116,945,000 after buying an additional 1,000,000 shares during the last quarter. Finally, First Manhattan Co. increased its stake in shares of ConocoPhillips by 71.7% in the first quarter. First Manhattan Co. now owns 2,299,139 shares of the energy producer’s stock valued at $99,943,000 after buying an additional 959,712 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
ConocoPhillips (COP) traded up 0.22% during trading on Thursday, hitting $45.75. 1,180,178 shares of the company were exchanged. The company’s market capitalization is $55.68 billion. The stock’s 50-day moving average is $44.17 and its 200-day moving average is $46.54. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter last year, the company earned ($0.79) earnings per share. Equities research analysts anticipate that ConocoPhillips will post $0.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.32%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
COP has been the topic of several recent analyst reports. BidaskClub downgraded shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Royal Bank Of Canada set a $62.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. decreased their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Finally, Sanford C. Bernstein downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. ConocoPhillips has a consensus rating of “Hold” and a consensus target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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