KBC Group NV Lowers Stake in ConocoPhillips (COP)
KBC Group NV reduced its stake in shares of ConocoPhillips (NYSE:COP) by 18.8% during the third quarter, Holdings Channel reports. The fund owned 355,074 shares of the company’s stock after selling 82,095 shares during the period. KBC Group NV’s holdings in ConocoPhillips were worth $15,434,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. A.R.T. Advisors LLC purchased a new stake in ConocoPhillips during the first quarter worth approximately $1,084,000. Integrated Investment Consultants LLC increased its stake in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares in the last quarter. Stock Yards Bank & Trust Co. increased its stake in ConocoPhillips by 150.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,061 shares of the company’s stock worth $1,790,000 after buying an additional 24,678 shares in the last quarter. Baxter Bros Inc. purchased a new stake in ConocoPhillips during the second quarter worth approximately $1,171,000. Finally, Raymond James Trust N.A. increased its stake in ConocoPhillips by 0.5% in the second quarter. Raymond James Trust N.A. now owns 37,635 shares of the company’s stock worth $1,640,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 63.51% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded up 10.87% during trading on Wednesday, reaching $49.04. The company had a trading volume of 9,703,893 shares. The firm’s market capitalization is $60.76 billion. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $54.75. The firm has a 50-day moving average of $43.65 and a 200 day moving average of $42.81.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.66) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same period in the prior year, the business earned ($0.38) earnings per share. Analysts expect that ConocoPhillips will post ($2.83) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. ConocoPhillips’s dividend payout ratio (DPR) is -17.67%.
COP has been the topic of a number of recent research reports. Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, October 24th. Barclays PLC restated an “overweight” rating and set a $60.00 price objective on shares of ConocoPhillips in a research report on Monday, October 10th. Nomura restated a “hold” rating and set a $49.00 price objective on shares of ConocoPhillips in a research report on Monday, October 3rd. Edward Jones upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Finally, Wolfe Research upgraded ConocoPhillips from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, October 24th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $51.73.
ConocoPhillips Company Profile
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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