Greenleaf Trust Lowers Position in ConocoPhillips (COP)
Greenleaf Trust cut its stake in shares of ConocoPhillips (NYSE:COP) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 13,088 shares of the company’s stock after selling 2,135 shares during the period. Greenleaf Trust’s holdings in ConocoPhillips were worth $571,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock valued at $109,000 after buying an additional 1,371 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock valued at $111,000 after buying an additional 509 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $122,000. Cornerstone Advisors Inc. increased its position in shares of ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock valued at $153,000 after buying an additional 79 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock valued at $156,000 after buying an additional 12 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) traded up 0.396% during trading on Monday, reaching $44.395. The company’s stock had a trading volume of 6,332,710 shares. The stock’s 50-day moving average is $41.80 and its 200 day moving average is $42.73. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24. The company’s market cap is $54.98 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, October 13th. ConocoPhillips’s payout ratio is -17.57%.
Several research analysts have recently commented on COP shares. Deutsche Bank AG reissued a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, July 13th. Nomura reissued a “hold” rating and issued a $49.00 target price on shares of ConocoPhillips in a report on Monday, October 3rd. Vetr raised ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price objective on the stock in a report on Monday, September 12th. Finally, Jefferies Group raised ConocoPhillips from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $30.00 to $40.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.10.
In related news, VP Ellen Desanctis bought 5,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the purchase, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti bought 6,500 shares of the company’s stock in a transaction on Monday, August 1st. The stock was bought at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the purchase, the director now owns 19,000 shares of the company’s stock, valued at $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.
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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