Banco Santander S.A. lifted its position in shares of ConocoPhillips (NYSE:COP) by 11,588.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,332 shares of the energy producer’s stock after purchasing an additional 412,770 shares during the quarter. Banco Santander S.A.’s holdings in ConocoPhillips were worth $12,823,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of ConocoPhillips by 5.0% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,710 shares of the energy producer’s stock worth $241,000 after purchasing an additional 175 shares during the period. Stevens Capital Management LP lifted its stake in ConocoPhillips by 1.3% in the fourth quarter. Stevens Capital Management LP now owns 13,311 shares of the energy producer’s stock valued at $866,000 after buying an additional 176 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in ConocoPhillips by 2.6% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 7,078 shares of the energy producer’s stock valued at $460,000 after buying an additional 178 shares during the last quarter. BerganKDV Wealth Management LLC lifted its stake in ConocoPhillips by 13.8% in the fourth quarter. BerganKDV Wealth Management LLC now owns 1,473 shares of the energy producer’s stock valued at $96,000 after buying an additional 179 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its stake in ConocoPhillips by 1.7% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 10,654 shares of the energy producer’s stock valued at $693,000 after buying an additional 183 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips stock traded down $0.44 during trading hours on Friday, hitting $43.28. The stock had a trading volume of 4,673,997 shares, compared to its average volume of 8,641,900. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 2.04. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.57 and a beta of 1.71. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $67.13. The stock’s fifty day moving average is $37.56 and its two-hundred day moving average is $50.97.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.22. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a return on equity of 10.02% and a net margin of 11.51%. During the same quarter in the prior year, the company earned $1.00 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post -1.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, May 8th. ConocoPhillips’s dividend payout ratio (DPR) is 46.80%.
ConocoPhillips announced that its board has authorized a stock buyback plan on Tuesday, February 4th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the energy producer to reacquire up to 15.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
A number of brokerages have weighed in on COP. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Mizuho boosted their target price on ConocoPhillips from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $67.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. Morgan Stanley dropped their target price on ConocoPhillips from $79.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Finally, Capital One Financial began coverage on ConocoPhillips in a report on Tuesday, February 11th. They issued an “overweight” rating and a $70.00 target price on the stock. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and an average target price of $57.19.
In other news, Director David Thomas Seaton bought 2,400 shares of the stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $41.03 per share, with a total value of $98,472.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $102,575. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.
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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