Private Capital Management Inc. Has $499,000 Stake in ConocoPhillips (COP)

Private Capital Management Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the energy producer’s stock after buying an additional 750 shares during the period. Private Capital Management Inc.’s holdings in ConocoPhillips were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Gemmer Asset Management LLC increased its stake in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares during the last quarter. Advocacy Wealth Management Services LLC boosted its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the period. Quadrant Capital Group LLC boosted its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in ConocoPhillips during the first quarter worth approximately $131,000. Institutional investors and hedge funds own 68.00% of the company’s stock.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Shares of ConocoPhillips (COP) opened at 46.53 on Friday. The company has a 50-day moving average price of $46.03 and a 200 day moving average price of $48.16. ConocoPhillips has a 52 week low of $38.80 and a 52 week high of $53.17. The stock’s market capitalization is $57.56 billion. ConocoPhillips also was the target of some unusual options trading on Thursday. Traders acquired 29,576 put options on the stock. This represents an increase of approximately 496% compared to the average volume of 4,966 put options.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.47 billion. ConocoPhillips had a negative net margin of 5.05% and a negative return on equity of 5.92%. During the same quarter in the previous year, the firm posted ($0.95) EPS. Equities analysts forecast that ConocoPhillips will post $0.53 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, May 11th. This represents a $1.06 annualized dividend and a yield of 2.28%. ConocoPhillips’s payout ratio is presently -95.50%.

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COP has been the subject of a number of research reports. Bank of America Corporation lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $67.00 in a report on Thursday, May 11th. Cowen and Company reissued a “buy” rating on shares of ConocoPhillips in a research report on Friday, April 14th. Guggenheim initiated coverage on shares of ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating for the company. Instinet reaffirmed a “neutral” rating and set a $54.00 price objective on shares of ConocoPhillips in a research report on Monday, April 3rd. Finally, Jefferies Group LLC raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $59.00 in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.92.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

About ConocoPhillips

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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