Chicago Capital LLC acquired a new position in ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,611 shares of the energy producer’s stock, valued at approximately $202,000.
A number of other institutional investors have also made changes to their positions in COP. Fisher Asset Management LLC lifted its stake in ConocoPhillips by 31.2% in the 2nd quarter. Fisher Asset Management LLC now owns 6,647 shares of the energy producer’s stock worth $463,000 after acquiring an additional 1,579 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of ConocoPhillips by 6.1% during the 2nd quarter. Fulton Bank N.A. now owns 29,572 shares of the energy producer’s stock worth $2,059,000 after purchasing an additional 1,712 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of ConocoPhillips by 4.8% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 51,260 shares of the energy producer’s stock worth $3,569,000 after purchasing an additional 2,330 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of ConocoPhillips by 13.0% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,851 shares of the energy producer’s stock worth $1,452,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth about $85,972,000. 71.72% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE COP opened at $69.50 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $78.10 billion, a PE ratio of 115.83, a P/E/G ratio of 1.58 and a beta of 1.22. ConocoPhillips has a 52 week low of $48.97 and a 52 week high of $80.24.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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 business 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%. Research analysts expect that ConocoPhillips will post 4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be issued a dividend of $0.305 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, October 12th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.76%. ConocoPhillips’s dividend payout ratio is currently 203.33%.
ConocoPhillips declared that its Board of Directors has approved a share buyback plan on Thursday, July 12th that authorizes the company to buyback $9.00 billion in outstanding 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 often an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on ConocoPhillips from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Mizuho reaffirmed a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, July 24th. ValuEngine downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Barclays raised their price target on ConocoPhillips from $78.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Monday, October 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $75.53.
In other news, Chairman Ryan Michael Lance sold 160,064 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total transaction of $11,535,812.48. Following the transaction, the chairman now owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Glenda Mae Schwarz sold 18,882 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total value of $1,343,454.30. Following the transaction, the vice president now directly owns 29,064 shares in the company, valued at approximately $2,067,903.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,378 shares of company stock worth $20,769,145. 0.88% of the stock is currently owned by insiders.
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ConocoPhillips Company Profile
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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