BB&T Corp Has $4.16 Million Stake in ConocoPhillips (NYSE:COP)
BB&T Corp decreased its position in ConocoPhillips (NYSE:COP) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,628 shares of the energy producer’s stock after selling 7,530 shares during the period. BB&T Corp’s holdings in ConocoPhillips were worth $4,160,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Command Bank boosted its position in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares in the last quarter. Gemmer Asset Management LLC boosted its position in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its position in shares of ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Shares of ConocoPhillips (COP) traded up 1.79% during trading on Tuesday, hitting $45.98. 2,627,617 shares of the stock traded hands. The firm has a 50-day moving average of $44.26 and a 200-day moving average of $46.70. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The firm’s market capitalization is $55.96 billion.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter last year, the firm earned ($0.79) earnings per share. On average, equities analysts forecast that ConocoPhillips will post $0.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.
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COP has been the subject of a number of analyst reports. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 15th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $59.00 in a research note on Wednesday, May 17th. Finally, Citigroup Inc. cut their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $55.18.
In related news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by company insiders.
ConocoPhillips Company Profile
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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