Keybank National Association OH lowered its position in ConocoPhillips (NYSE:COP) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 639,866 shares of the energy producer’s stock after selling 30,640 shares during the quarter. Keybank National Association OH’s holdings in ConocoPhillips were worth $44,547,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. IMA Wealth Inc. acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $100,000. Centaurus Financial Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $104,000. Acropolis Investment Management LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $107,000. Adviser Investments LLC increased its stake in shares of ConocoPhillips by 139.4% during the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after acquiring an additional 1,139 shares during the period. Finally, Bristol John W & Co. Inc. NY acquired a new position in shares of ConocoPhillips during the first quarter valued at approximately $142,000. Institutional investors own 70.85% of the company’s stock.
A number of research firms recently commented on COP. Morgan Stanley raised their price objective on shares of ConocoPhillips from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Jefferies Financial Group reiterated a “hold” rating and set a $80.00 price objective on shares of ConocoPhillips in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Mizuho reiterated a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, July 24th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and an average target price of $71.32.
In related news, VP Glenda Mae Schwarz sold 6,763 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $65.04, for a total value of $439,865.52. Following the completion of the transaction, the vice president now owns 10,182 shares of the company’s stock, valued at approximately $662,237.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
ConocoPhillips stock opened at $70.52 on Tuesday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $73.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.75 and a quick ratio of 1.58. The company has a market capitalization of $81.08 billion, a P/E ratio of 117.53, a PEG ratio of 1.81 and a beta of 1.20.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 26th. The energy producer reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. ConocoPhillips had a net margin of 13.26% and a return on equity of 10.26%. The firm had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the business posted $0.14 EPS. equities analysts forecast that ConocoPhillips will post 4.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, July 23rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, July 20th. ConocoPhillips’s dividend payout ratio is 190.00%.
ConocoPhillips announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 12th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the energy producer to buy up to 10.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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