Resources Investment Advisors Inc. lessened its position in ConocoPhillips (NYSE:COP) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 61,737 shares of the energy producer’s stock after selling 261 shares during the period. Resources Investment Advisors Inc.’s holdings in ConocoPhillips were worth $4,125,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc lifted its position in shares of ConocoPhillips by 0.5% during the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after purchasing an additional 451,104 shares in the last quarter. BlackRock Inc. lifted its position in shares of ConocoPhillips by 1.0% during the fourth quarter. BlackRock Inc. now owns 80,608,101 shares of the energy producer’s stock worth $5,025,913,000 after purchasing an additional 809,773 shares in the last quarter. Northern Trust Corp lifted its position in shares of ConocoPhillips by 5.8% during the fourth quarter. Northern Trust Corp now owns 15,650,146 shares of the energy producer’s stock worth $975,786,000 after purchasing an additional 861,057 shares in the last quarter. Geode Capital Management LLC raised its holdings in ConocoPhillips by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock valued at $940,354,000 after acquiring an additional 659,942 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $738,471,000. 72.16% of the stock is owned by hedge funds and other institutional investors.
COP has been the topic of several research analyst reports. Morgan Stanley raised their price objective on shares of ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday, March 13th. Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $75.00 in a report on Thursday, March 21st. Credit Suisse Group raised ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Tuesday, April 30th. Finally, ValuEngine cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $78.36.
Shares of COP opened at $59.06 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24. The company has a market capitalization of $66.17 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The firm had revenue of $10.06 billion for the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same quarter in the previous year, the business posted $0.96 EPS. Equities analysts forecast that ConocoPhillips will post 4.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.93%.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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