Mcrae Capital Management Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,528 shares of the energy producer’s stock after selling 6,930 shares during the quarter. ConocoPhillips comprises 1.8% of Mcrae Capital Management Inc.’s portfolio, making the stock its 22nd biggest holding. Mcrae Capital Management Inc.’s holdings in ConocoPhillips were worth $4,181,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in COP. Prudential Financial Inc. increased its stake in ConocoPhillips by 1.9% in the 1st quarter. Prudential Financial Inc. now owns 5,143,375 shares of the energy producer’s stock worth $256,500,000 after acquiring an additional 93,430 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in ConocoPhillips by 19.5% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,428,758 shares of the energy producer’s stock worth $71,252,000 after acquiring an additional 232,700 shares during the last quarter. Stifel Financial Corp increased its stake in ConocoPhillips by 1.8% in the 1st quarter. Stifel Financial Corp now owns 721,784 shares of the energy producer’s stock worth $35,857,000 after acquiring an additional 12,423 shares during the last quarter. Berkeley Capital Partners LLC increased its stake in ConocoPhillips by 1.8% in the 1st quarter. Berkeley Capital Partners LLC now owns 7,293 shares of the energy producer’s stock worth $364,000 after acquiring an additional 132 shares during the last quarter. Finally, Clinton Group Inc. bought a new stake in ConocoPhillips in the 1st quarter worth approximately $2,359,000. 69.87% of the stock is currently owned by institutional investors and hedge funds.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on ConocoPhillips in a research report on Monday. They set a “neutral” rating and a $50.00 target price on the stock. Barclays reissued an “overweight” rating and set a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. BidaskClub downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, November 3rd. Finally, Wells Fargo & Company boosted their target price on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.00.
ConocoPhillips (NYSE COP) traded up $0.20 on Tuesday, reaching $51.89. The company had a trading volume of 1,144,580 shares, compared to its average volume of 7,095,786. ConocoPhillips has a one year low of $42.26 and a one year high of $54.22. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The stock has a market cap of $61,652.76, a PE ratio of 2,578.50, a P/E/G ratio of 12.67 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the business earned ($0.66) EPS. sell-side analysts anticipate that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s payout ratio is currently -57.30%.
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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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