MANA Advisors LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,815 shares of the energy producer’s stock, valued at approximately $374,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Toronto Dominion Bank lifted its stake in shares of ConocoPhillips by 16.1% in the 2nd quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock valued at $27,092,000 after purchasing an additional 85,538 shares during the last quarter. Korea Investment CORP lifted its stake in shares of ConocoPhillips by 32.8% in the 3rd quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock valued at $51,351,000 after purchasing an additional 253,600 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of ConocoPhillips by 94.3% in the 3rd quarter. Intact Investment Management Inc. now owns 10,300 shares of the energy producer’s stock valued at $515,000 after purchasing an additional 5,000 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in shares of ConocoPhillips by 38.8% in the 3rd quarter. Johnson Financial Group Inc. now owns 24,924 shares of the energy producer’s stock valued at $1,247,000 after purchasing an additional 6,972 shares during the last quarter. Finally, Royal Bank of Scotland Group PLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $21,216,000. 71.27% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the company. UBS Group assumed coverage on ConocoPhillips in a research note on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price objective for the company. Barclays set a $71.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, March 4th. Argus lowered their price objective on ConocoPhillips from $65.00 to $54.54 and set a “buy” rating for the company in a research note on Friday, February 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a report on Wednesday, February 14th. Finally, Citigroup increased their price target on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $58.75.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same period last year, the business posted ($0.26) EPS. research analysts anticipate that ConocoPhillips will post 2.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were issued a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is presently -228.00%.
ConocoPhillips declared that its board has approved a stock repurchase program on Thursday, February 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the energy producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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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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