Notis McConarty Edward Reduces Position in ConocoPhillips (COP)
Notis McConarty Edward cut its position in shares of ConocoPhillips (NYSE:COP) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 4,553 shares of the energy producer’s stock after selling 80 shares during the period. Notis McConarty Edward’s holdings in ConocoPhillips were worth $227,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of ConocoPhillips during the first quarter worth $193,000. First Foundation Advisors purchased a new position in shares of ConocoPhillips during the first quarter worth $497,000. Capital Investment Advisors LLC raised its position in shares of ConocoPhillips by 10.3% in the first quarter. Capital Investment Advisors LLC now owns 26,482 shares of the energy producer’s stock worth $1,321,000 after buying an additional 2,477 shares in the last quarter. Shell Asset Management Co. raised its position in shares of ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock worth $208,197,000 after buying an additional 730,325 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE:COP) traded down 0.40% during trading on Friday, reaching $44.79. The company’s stock had a trading volume of 4,206,885 shares. The company has a 50 day moving average price of $44.17 and a 200 day moving average price of $46.50. The firm’s market capitalization is $54.51 billion. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same quarter in the previous year, the company earned ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is -34.98%.
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A number of research analysts have recently weighed in on COP shares. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC reissued a “hold” rating and issued a $55.00 price objective on shares of ConocoPhillips in a report on Friday, May 5th. Finally, Scotiabank set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is owned by 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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