LMR Partners LLP Has $352,000 Holdings in ConocoPhillips (COP)
LMR Partners LLP cut its holdings in ConocoPhillips (NYSE:COP) by 56.3% in the fourth quarter, Holdings Channel reports. The fund owned 6,421 shares of the energy producer’s stock after selling 8,269 shares during the quarter. LMR Partners LLP’s holdings in ConocoPhillips were worth $352,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Krilogy Financial LLC lifted its stake in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC lifted its stake in ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after acquiring an additional 1,396 shares during the last quarter. Clear Perspective Advisors LLC lifted its stake in ConocoPhillips by 75.5% in the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after acquiring an additional 1,200 shares during the last quarter. Lloyds Banking Group plc acquired a new stake in ConocoPhillips in the second quarter valued at approximately $127,000. Finally, TLP Group LLC acquired a new stake in ConocoPhillips in the second quarter valued at approximately $142,000. Hedge funds and other institutional investors own 69.66% of the company’s stock.
A number of analysts have issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 target price on shares of ConocoPhillips in a research note on Wednesday, January 24th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Macquarie assumed coverage on shares of ConocoPhillips in a research note on Wednesday, January 17th. They issued an “outperform” rating for the company. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Barclays boosted their price objective on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus price target of $58.71.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. During the same period in the prior year, the company earned ($0.26) EPS. equities analysts predict that ConocoPhillips will post 2.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.285 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, February 9th. ConocoPhillips’s dividend payout ratio is presently -212.00%.
ConocoPhillips announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the purchase, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by corporate insiders.
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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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