New Hampshire Trust reduced its position in ConocoPhillips (NYSE:COP – Free Report) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,323 shares of the energy producer’s stock after selling 732 shares during the period. New Hampshire Trust’s holdings in ConocoPhillips were worth $2,727,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of COP. Moneta Group Investment Advisors LLC boosted its holdings in shares of ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after buying an additional 8,575,696 shares in the last quarter. Morgan Stanley boosted its holdings in shares of ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Cowa LLC raised its position in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Two Sigma Investments LP raised its position in shares of ConocoPhillips by 794.6% in the 1st quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock valued at $229,532,000 after purchasing an additional 2,054,974 shares during the last quarter. Finally, Findlay Park Partners LLP purchased a new position in shares of ConocoPhillips in the 4th quarter valued at approximately $207,728,000. 80.36% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
COP has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $124.00 price objective on shares of ConocoPhillips in a research report on Wednesday, July 19th. Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. UBS Group increased their price objective on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.42.
ConocoPhillips Stock Performance
Shares of COP traded down $0.93 during trading hours on Friday, hitting $123.57. The stock had a trading volume of 12,440,960 shares, compared to its average volume of 3,823,348. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. The firm has a 50-day moving average price of $116.22 and a 200 day moving average price of $107.24. ConocoPhillips has a fifty-two week low of $91.53 and a fifty-two week high of $138.49. The firm has a market capitalization of $147.97 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.78 and a beta of 1.30.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The firm had revenue of $12.88 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the firm earned $3.91 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.74 EPS for the current year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, September 28th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, September 27th. ConocoPhillips’s payout ratio is presently 19.65%.
Insider Buying and Selling
In related news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the sale, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by insiders.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's 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 global exploration prospects.
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