Parkside Financial Bank & Trust increased its holdings in shares of ConocoPhillips (NYSE:COP) by 11.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,431 shares of the energy producer’s stock after buying an additional 1,037 shares during the period. Parkside Financial Bank & Trust’s holdings in ConocoPhillips were worth $594,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Nuveen Asset Management LLC lifted its stake in shares of ConocoPhillips by 12,704.0% in the second quarter. Nuveen Asset Management LLC now owns 6,385,725 shares of the energy producer’s stock worth $389,529,000 after buying an additional 6,335,852 shares in the last quarter. BlackRock Inc. lifted its stake in shares of ConocoPhillips by 4.0% in the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock worth $4,879,663,000 after buying an additional 3,103,095 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of ConocoPhillips by 36.4% in 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. lifted its stake in shares of ConocoPhillips by 82.7% in 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. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of ConocoPhillips by 90.5% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 2,447,473 shares of the energy producer’s stock worth $149,297,000 after buying an additional 1,162,943 shares in the last quarter. 71.45% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on COP. Barclays began coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They issued an “overweight” rating and a $79.00 target price on the stock. Baader Bank reissued a “neutral” rating and set a $52.00 price objective on shares of ConocoPhillips in a report on Tuesday, October 29th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, Warburg Research reissued a “neutral” rating and set a $61.00 price objective on shares of ConocoPhillips in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average target price of $69.81.
Shares of COP traded down $0.38 during mid-day trading on Friday, hitting $59.16. 4,699,111 shares of the company traded hands, compared to its average volume of 5,979,278. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.40 and a current ratio of 2.56. The stock has a 50-day moving average price of $56.52 and a two-hundred day moving average price of $58.08. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $71.01. The stock has a market cap of $64.20 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.70 and a beta of 1.05.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, October 29th. The energy producer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The business had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. During the same period in the prior year, the company earned $1.36 earnings per share. On average, analysts forecast that ConocoPhillips will post 3.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s dividend payout ratio is currently 37.09%.
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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.