Point View Wealth Management Inc. Purchases 5,452 Shares of ConocoPhillips (COP)
Point View Wealth Management Inc. boosted its position in ConocoPhillips (NYSE:COP) by 19.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,939 shares of the energy producer’s stock after buying an additional 5,452 shares during the quarter. Point View Wealth Management Inc.’s holdings in ConocoPhillips were worth $1,448,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in COP. Patten & Patten Inc. TN increased its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after purchasing an additional 2,607 shares during the last quarter. Shell Asset Management Co. increased its position in shares of ConocoPhillips by 2.4% during the 2nd quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock worth $8,883,000 after purchasing an additional 4,647 shares during the last quarter. First Foundation Advisors acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $497,000. FMR LLC increased its position in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after purchasing an additional 3,982,002 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of ConocoPhillips by 12.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock worth $10,518,000 after purchasing an additional 23,434 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.
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Shares of ConocoPhillips (COP) opened at 50.25 on Friday. ConocoPhillips has a 52-week low of $41.13 and a 52-week high of $53.17. The company’s market cap is $61.15 billion. The firm has a 50 day moving average price of $48.15 and a 200-day moving average price of $46.16.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results 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 business had revenue of $8.88 billion for the quarter, compared to the consensus estimate 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 last year, the business posted ($0.79) earnings per share. Equities research analysts anticipate that ConocoPhillips will post $0.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.11%. ConocoPhillips’s dividend payout ratio is currently -34.98%.
Several research analysts have weighed in on COP shares. Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies set a $45.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $54.20.
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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