Aveo Capital Partners LLC Buys New Stake in ConocoPhillips (COP)
Aveo Capital Partners LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,569 shares of the company’s stock, valued at approximately $380,000.
Several other hedge funds have also added to or reduced their stakes in COP. BlackRock Institutional Trust Company N.A. increased its position in ConocoPhillips by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 33,707,193 shares of the company’s stock worth $1,465,252,000 after buying an additional 1,196,214 shares during the period. BlackRock Fund Advisors increased its position in ConocoPhillips by 1.1% in the third quarter. BlackRock Fund Advisors now owns 19,445,358 shares of the company’s stock worth $845,290,000 after buying an additional 216,543 shares during the period. Northern Trust Corp increased its position in ConocoPhillips by 1.4% in the third quarter. Northern Trust Corp now owns 15,540,730 shares of the company’s stock worth $675,555,000 after buying an additional 209,216 shares during the period. Ameriprise Financial Inc. increased its position in ConocoPhillips by 19.9% in the third quarter. Ameriprise Financial Inc. now owns 14,505,423 shares of the company’s stock worth $630,547,000 after buying an additional 2,408,335 shares during the period. Finally, Bank of New York Mellon Corp increased its position in ConocoPhillips by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 14,091,927 shares of the company’s stock worth $614,409,000 after buying an additional 320,848 shares during the period. Institutional investors own 65.39% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at 48.34 on Friday. ConocoPhillips has a 12 month low of $31.82 and a 12 month high of $53.17. The stock has a 50 day moving average price of $49.93 and a 200 day moving average price of $45.50. The firm’s market capitalization is $59.81 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 2nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.16. ConocoPhillips had a negative net margin of 14.84% and a negative return on equity of 8.73%. During the same period in the previous year, the company posted ($0.90) EPS. On average, analysts expect that ConocoPhillips will post $0.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th will be given a $0.265 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, February 10th. ConocoPhillips’s payout ratio is currently -36.43%.
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COP has been the topic of a number of research reports. Jefferies Group LLC upped their price target on shares of ConocoPhillips to $46.00 and gave the stock a “hold” rating in a research note on Monday, November 14th. Vetr raised shares of ConocoPhillips from a “buy” rating to a “strong-buy” rating and set a $50.61 price target on the stock in a research note on Tuesday, November 8th. CLSA downgraded shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a research note on Tuesday, November 15th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of ConocoPhillips in a research note on Saturday, January 14th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $53.00 price target (up from $52.00) on shares of ConocoPhillips in a research note on Monday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $55.78.
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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