United Capital Financial Advisers LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,231 shares of the energy producer’s stock after acquiring an additional 39,622 shares during the quarter. United Capital Financial Advisers LLC’s holdings in ConocoPhillips were worth $22,523,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in COP. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of ConocoPhillips in the first quarter worth $195,526,000. Wells Fargo & Company MN boosted its holdings in ConocoPhillips by 36.4% during the second quarter. Wells Fargo & Company MN now owns 4,998,770 shares of the energy producer’s stock worth $304,924,000 after buying an additional 1,335,051 shares in the last quarter. Prudential Financial Inc. boosted its holdings in ConocoPhillips by 82.7% during the second quarter. Prudential Financial Inc. now owns 2,821,382 shares of the energy producer’s stock worth $172,104,000 after buying an additional 1,276,955 shares in the last quarter. MUFG Securities EMEA plc boosted its holdings in ConocoPhillips by 422.6% during the second quarter. MUFG Securities EMEA plc now owns 1,044,599 shares of the energy producer’s stock worth $63,721,000 after buying an additional 844,728 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc boosted its holdings in ConocoPhillips by 38.0% during the second quarter. Schafer Cullen Capital Management Inc now owns 2,740,409 shares of the energy producer’s stock worth $169,248,000 after buying an additional 754,411 shares in the last quarter. Hedge funds and other institutional investors own 71.56% of the company’s stock.
COP traded up $1.18 during midday trading on Friday, hitting $57.53. 289,672 shares of the company traded hands, compared to its average volume of 5,719,988. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $62.52 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.52 and a beta of 1.04. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $80.24. The business has a 50 day simple moving average of $54.20 and a two-hundred day simple moving average of $61.02.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02). The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 3.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, July 19th. ConocoPhillips’s payout ratio is 26.93%.
A number of analysts recently issued reports on COP shares. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the stock from $74.00 to $80.00 in a report on Wednesday, June 26th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, July 17th. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Thursday, July 11th. Finally, Morgan Stanley lowered their price target on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $76.85.
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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