BTIM Corp. raised its position in shares of ConocoPhillips (NYSE:COP) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 694,744 shares of the energy producer’s stock after buying an additional 6,350 shares during the period. BTIM Corp. owned about 0.06% of ConocoPhillips worth $30,541,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. FMR LLC raised its stake in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of ConocoPhillips by 1.1% in the first quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock worth $797,013,000 after buying an additional 176,055 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares in the last quarter. 68.68% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE COP) opened at 43.11 on Friday. The company’s 50 day moving average is $44.10 and its 200 day moving average is $46.28. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The company’s market cap is $52.46 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the prior year, the company earned ($0.79) EPS. On average, equities research analysts predict that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.46%. ConocoPhillips’s payout ratio is -34.98%.
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A number of analysts have commented on the company. Jefferies Group LLC raised ConocoPhillips from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Citigroup Inc. reduced their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $52.00 target price on shares of ConocoPhillips in a report on Thursday, June 22nd. Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the company from $51.00 to $58.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.18.
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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