Burleson & Company LLC Sells 7,639 Shares of ConocoPhillips (COP)
Burleson & Company LLC cut its position in ConocoPhillips (NYSE:COP) by 27.1% in the third quarter, HoldingsChannel reports. The firm owned 20,597 shares of the energy producer’s stock after selling 7,639 shares during the period. Burleson & Company LLC’s holdings in ConocoPhillips were worth $1,368,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in COP. First Trust Advisors LP raised its holdings in ConocoPhillips by 1.4% in the second quarter. First Trust Advisors LP now owns 226,054 shares of the energy producer’s stock worth $15,738,000 after purchasing an additional 3,104 shares in the last quarter. Fiera Capital Corp raised its holdings in ConocoPhillips by 1,504.2% in the second quarter. Fiera Capital Corp now owns 101,705 shares of the energy producer’s stock worth $7,080,000 after purchasing an additional 95,365 shares in the last quarter. Adviser Investments LLC raised its holdings in ConocoPhillips by 139.4% in the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after purchasing an additional 1,139 shares in the last quarter. Pitcairn Co. increased its holdings in shares of ConocoPhillips by 31.7% during the second quarter. Pitcairn Co. now owns 4,751 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 1,144 shares in the last quarter. Finally, Barings LLC increased its holdings in shares of ConocoPhillips by 29.8% during the second quarter. Barings LLC now owns 75,939 shares of the energy producer’s stock valued at $5,287,000 after acquiring an additional 17,442 shares in the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.
Several research firms have recently issued reports on COP. Zacks Investment Research downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Piper Jaffray Companies restated a “hold” rating and set a $66.00 price objective on shares of ConocoPhillips in a report on Monday, November 19th. Mizuho set a $68.00 price objective on shares of ConocoPhillips and gave the company a “hold” rating in a report on Monday. BMO Capital Markets set a $78.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Monday, November 12th. Finally, Morgan Stanley downgraded shares of ConocoPhillips to a “hold” rating in a report on Tuesday, October 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.63.
NYSE COP traded down $1.40 during trading hours on Thursday, reaching $65.52. The stock had a trading volume of 907,419 shares, compared to its average volume of 7,047,764. The firm has a market cap of $77.04 billion, a P/E ratio of 109.20, a P/E/G ratio of 1.57 and a beta of 1.22. ConocoPhillips has a 52-week low of $50.08 and a 52-week high of $80.24. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.46.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. As a group, research analysts expect that ConocoPhillips will post 4.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, October 15th were given a $0.305 dividend. The ex-dividend date of this dividend was Friday, October 12th. This represents a $1.22 dividend on an annualized basis and a yield of 1.86%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s dividend payout ratio is currently 203.33%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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