Altavista Wealth Management Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,144 shares of the energy producer’s stock after selling 4,160 shares during the period. Altavista Wealth Management Inc.’s holdings in ConocoPhillips were worth $1,404,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of COP. Advocacy Wealth Management Services LLC grew its holdings in ConocoPhillips by 4.5% during the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after purchasing an additional 100 shares during the period. Westside Investment Management Inc. grew its holdings in ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the period. Advantage Investment Management LLC grew its holdings in ConocoPhillips by 65.3% during the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 958 shares during the period. Massey Quick & Co. LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $123,000. Finally, Harbour Capital Advisors LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $123,000. 68.99% of the stock is owned by institutional investors and hedge funds.
COP has been the subject of several research analyst reports. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and upped their price target for the company from $55.00 to $59.00 in a report on Wednesday, May 17th. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 15th. Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $54.03.
Shares of ConocoPhillips (COP) traded up 0.234% during trading on Tuesday, hitting $45.035. 2,024,965 shares of the stock traded hands. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The stock’s market cap is $54.81 billion. The stock has a 50 day moving average price of $44.22 and a 200-day moving average price of $45.69.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the business posted ($0.79) EPS. Equities analysts forecast that ConocoPhillips will post $0.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -34.98%.
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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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