Stoneridge Investment Partners LLC Buys New Stake in ConocoPhillips (COP)
Stoneridge Investment Partners LLC bought a new stake in ConocoPhillips (NYSE:COP) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 62,816 shares of the company’s stock, valued at approximately $2,739,000.
Several other large investors also recently bought and sold shares of the company. MCF Advisors LLC increased its stake in shares of ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock worth $156,000 after buying an additional 12 shares during the period. NEXT Financial Group Inc increased its stake in shares of ConocoPhillips by 0.3% in the second quarter. NEXT Financial Group Inc now owns 17,453 shares of the company’s stock worth $760,000 after buying an additional 53 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock worth $153,000 after buying an additional 79 shares during the period. Ropes Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 1.5% in the first quarter. Ropes Wealth Advisors LLC now owns 6,072 shares of the company’s stock worth $245,000 after buying an additional 90 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of ConocoPhillips by 1.2% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 8,787 shares of the company’s stock worth $383,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 63.70% of the company’s stock.
ConocoPhillips (NYSE:COP) traded up 2.40% during mid-day trading on Thursday, reaching $41.02. The company’s stock had a trading volume of 7,920,209 shares. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24. The firm’s 50 day moving average is $41.54 and its 200-day moving average is $42.59. The stock’s market cap is $50.80 billion.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18. The company earned $5.58 billion during the quarter, compared to analysts’ expectations of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. Equities analysts expect that ConocoPhillips will post ($2.48) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, July 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, July 21st. ConocoPhillips’s dividend payout ratio is -17.57%.
A number of equities research analysts recently issued reports on COP shares. Bank of America Corp. reiterated a “buy” rating and issued a $71.00 price objective on shares of ConocoPhillips in a research report on Friday, June 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.63.
In other ConocoPhillips news, Director Arjun N. Murti bought 6,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average cost of $39.72 per share, for a total transaction of $258,180.00. Following the transaction, the director now owns 19,000 shares of the company’s stock, valued at $754,680. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ellen Desanctis bought 5,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average price of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the transaction, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. Insiders own 0.07% of the company’s stock.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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