Advisory Services Network LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 32.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,844 shares of the energy producer’s stock after acquiring an additional 8,615 shares during the quarter. Advisory Services Network LLC’s holdings in ConocoPhillips were worth $1,913,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WFG Advisors LP raised its holdings in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares during the period. First City Capital Management Inc. raised its holdings in shares of ConocoPhillips by 1.4% during the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares during the period. Benchmark Capital Advisors raised its holdings in shares of ConocoPhillips by 0.9% during the second quarter. Benchmark Capital Advisors now owns 11,350 shares of the energy producer’s stock valued at $499,000 after purchasing an additional 100 shares during the period. Whalerock Point Partners LLC raised its holdings in shares of ConocoPhillips by 1.2% during the second quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after purchasing an additional 100 shares during the period. Finally, Waters Parkerson & CO. LLC raised its holdings in shares of ConocoPhillips by 1.0% during the second quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock valued at $529,000 after purchasing an additional 125 shares during the period. 70.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE:COP) opened at $57.05 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 2.23. The firm has a market cap of $68,200.00, a PE ratio of -41.95, a P/E/G ratio of 1.82 and a beta of 1.32. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $61.31.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be paid a $0.285 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.00%. ConocoPhillips’s dividend payout ratio (DPR) is -83.82%.
ConocoPhillips announced that its board has approved a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the energy producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several equities analysts have recently weighed in on COP shares. Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Scotiabank reiterated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a report on Wednesday, November 1st. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a report on Friday, December 22nd. Finally, Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $58.53.
In other news, Director Charles E. Bunch acquired 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the purchase, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.
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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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