10 15 Associates Inc. Has $9.57 Million Stake in ConocoPhillips (COP)
10 15 Associates Inc. raised its stake in ConocoPhillips (NYSE:COP) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 191,857 shares of the energy producer’s stock after buying an additional 929 shares during the period. ConocoPhillips accounts for approximately 2.6% of 10 15 Associates Inc.’s portfolio, making the stock its 15th largest position. 10 15 Associates Inc.’s holdings in ConocoPhillips were worth $9,567,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Gemmer Asset Management LLC boosted its stake in 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 during the period. Quadrant Capital Group LLC boosted its stake in 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 during the period. Financial Management Professionals Inc. boosted its stake in 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 during the period. Advocacy Wealth Management Services LLC boosted its stake in 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 during the period. Finally, Westside Investment Management Inc. boosted its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after buying an additional 2,000 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE COP) traded down 0.40% on Friday, reaching $44.79. 4,206,885 shares of the company’s stock were exchanged. The company’s market cap is $54.51 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s 50-day moving average price is $44.17 and its 200 day moving average price is $46.50.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the previous year, the firm posted ($0.79) EPS. Equities research analysts predict that ConocoPhillips will post $0.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -34.98%.
TRADEMARK VIOLATION NOTICE: This news story was reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/13/10-15-associates-inc-has-9-57-million-stake-in-conocophillips-cop.html.
COP has been the subject of a number of recent analyst reports. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report 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 report on Thursday, June 15th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and upped their price target for the company from $55.00 to $59.00 in a report on Wednesday, May 17th. Cowen and Company set a $55.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. decreased their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company’s stock.
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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.