Fayez Sarofim & Co. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,294,869 shares of the energy producer’s stock after selling 92,872 shares during the quarter. Fayez Sarofim & Co. owned about 0.27% of ConocoPhillips worth $144,842,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. grew its stake in ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. First Command Bank grew its stake in ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares during the last quarter. Westside Investment Management Inc. grew its stake in ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after buying an additional 2,000 shares during the last quarter. Massey Quick & Co. LLC bought a new position in ConocoPhillips during the 1st quarter worth $123,000. Finally, Harbour Capital Advisors LLC bought a new position in ConocoPhillips during the 1st quarter worth $123,000. Hedge funds and other institutional investors own 70.08% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at $51.23 on Wednesday. The stock has a market capitalization of $62,848.27, a PE ratio of 2,628.50, a P/E/G ratio of 12.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a one year low of $42.26 and a one year high of $54.22.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period in the prior year, the business earned ($0.66) EPS. analysts predict that ConocoPhillips will post 0.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
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Several research analysts have recently issued reports on COP shares. Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Barclays PLC increased their price target on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Royal Bank Of Canada set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $55.37.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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