Everence Capital Management Inc. Acquires 7,420 Shares of ConocoPhillips (COP)

Everence Capital Management Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 14.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,304 shares of the energy producer’s stock after purchasing an additional 7,420 shares during the period. Everence Capital Management Inc.’s holdings in ConocoPhillips were worth $2,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank boosted its stake in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares in the last quarter. Westside Investment Management Inc. boosted its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares in the last quarter. Advantage Investment Management LLC boosted its stake in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 958 shares in the last quarter. Finally, Reilly Financial Advisors LLC boosted its stake in ConocoPhillips by 20.5% in the second quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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ConocoPhillips (NYSE:COP) opened at 49.71 on Thursday. ConocoPhillips has a one year low of $40.96 and a one year high of $53.17. The stock’s market cap is $60.49 billion. The company’s 50 day moving average is $47.78 and its 200 day moving average is $46.13.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during 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 quarter in the prior year, the business earned ($0.79) EPS. On average, equities research analysts expect that ConocoPhillips will post $0.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -34.98%.

COP has been the subject of several recent analyst reports. Citigroup Inc. lowered their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Cowen and Company set a $55.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 16th. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Jefferies Group LLC set a $59.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.81.

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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