Warren Averett Asset Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 11.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,099 shares of the energy producer’s stock after buying an additional 645 shares during the period. Warren Averett Asset Management LLC’s holdings in ConocoPhillips were worth $304,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Gemmer Asset Management LLC raised its position 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 valued at $108,000 after buying an additional 8 shares during the period. Quadrant Capital Group LLC raised its position in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares during the period. Financial Management Professionals Inc. raised its position 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 valued at $114,000 after buying an additional 6 shares during the period. Advocacy Wealth Management Services LLC raised its position in shares of ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at about $131,000. Institutional investors and hedge funds own 67.50% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at 43.45 on Friday. The firm has a 50-day moving average price of $45.46 and a 200-day moving average price of $47.90. ConocoPhillips has a 52 week low of $38.80 and a 52 week high of $53.17. The company’s market cap is $53.75 billion.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.05. The company 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 research analysts anticipate that ConocoPhillips will post $0.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -95.50%.
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Several equities analysts have issued reports on COP shares. Cowen and Company reissued a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Scotiabank set a $53.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Monday, March 27th. Guggenheim started coverage on ConocoPhillips in a research note on Tuesday, April 18th. They issued a “neutral” rating on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a research note on Thursday, June 15th. Finally, Jefferies Group LLC raised ConocoPhillips from a “hold” rating to a “buy” rating and boosted their price target for the company from $55.00 to $59.00 in a research note on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.77.
In other news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.
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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