Jacobs & Co. CA Lowers Stake in ConocoPhillips (COP)
Jacobs & Co. CA reduced its position in ConocoPhillips (NYSE:COP) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,431 shares of the energy producer’s stock after selling 2,590 shares during the period. Jacobs & Co. CA’s holdings in ConocoPhillips were worth $1,121,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares during the period. Krilogy Financial LLC grew its stake in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC grew its stake in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the period. Clear Perspective Advisors LLC grew its stake in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after purchasing an additional 1,200 shares during the period. Finally, TLP Group LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth $142,000. 70.49% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on COP shares. Royal Bank of Canada lifted their price objective on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Credit Suisse Group began coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $58.53.
Shares of ConocoPhillips (NYSE:COP) opened at $54.06 on Friday. The company has a market capitalization of $63,497.69, a PE ratio of 74.05, a PEG ratio of 1.61 and a beta of 1.33. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $61.31. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same period in the previous year, the company posted ($0.26) earnings per share. sell-side analysts anticipate that ConocoPhillips will post 2.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Monday, February 12th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, February 9th. ConocoPhillips’s payout ratio is -228.00%.
ConocoPhillips announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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