Cadence Bank NA boosted its holdings in ConocoPhillips (NYSE:COP) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,108 shares of the energy producer’s stock after purchasing an additional 5,518 shares during the quarter. Cadence Bank NA’s holdings in ConocoPhillips were worth $2,176,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of COP. Impax Asset Management LLC increased its holdings in shares of ConocoPhillips by 0.5% during the second quarter. Impax Asset Management LLC now owns 241,107 shares of the energy producer’s stock valued at $16,786,000 after acquiring an additional 1,108 shares in the last quarter. Signature Financial Management Inc. bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $303,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of ConocoPhillips by 2.3% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 88,826 shares of the energy producer’s stock valued at $6,184,000 after acquiring an additional 2,000 shares in the last quarter. Frontier Investment Mgmt Co. increased its holdings in shares of ConocoPhillips by 17.2% during the second quarter. Frontier Investment Mgmt Co. now owns 6,006 shares of the energy producer’s stock valued at $418,000 after acquiring an additional 882 shares in the last quarter. Finally, First Quadrant L P CA increased its holdings in shares of ConocoPhillips by 3,294.8% during the third quarter. First Quadrant L P CA now owns 332,455 shares of the energy producer’s stock valued at $25,732,000 after acquiring an additional 322,662 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.
Shares of ConocoPhillips stock opened at $66.73 on Friday. ConocoPhillips has a 12-month low of $48.97 and a 12-month high of $80.24. The firm has a market cap of $80.62 billion, a P/E ratio of 111.22, a P/E/G ratio of 1.62 and a beta of 1.22. 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 announced its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.48 billion. On average, equities analysts anticipate that ConocoPhillips will post 4.79 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, October 15th will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.22 annualized dividend and a yield of 1.83%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s dividend payout ratio is 203.33%.
In other ConocoPhillips news, Chairman Ryan Michael Lance sold 160,064 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total value of $11,535,812.48. Following the transaction, the chairman now owns 106,312 shares of the company’s stock, valued at $7,661,905.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of 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 sold 288,378 shares of company stock worth $20,769,145. Insiders own 0.88% of the company’s stock.
Several equities research analysts have recently commented on COP shares. Morgan Stanley boosted their price objective on ConocoPhillips from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, September 26th. Goldman Sachs Group downgraded ConocoPhillips from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, October 29th. Zacks Investment Research downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Finally, Citigroup upped their price target on ConocoPhillips from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and an average target price of $75.53.
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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