Peapack Gladstone Financial Corp lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,017 shares of the energy producer’s stock after selling 162 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in ConocoPhillips were worth $880,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in shares of ConocoPhillips by 5.1% during the first quarter. Independent Advisor Alliance now owns 54,947 shares of the energy producer’s stock worth $2,698,000 after purchasing an additional 2,665 shares during the period. 1st Global Advisors Inc. grew its stake in shares of ConocoPhillips by 0.8% during the first quarter. 1st Global Advisors Inc. now owns 20,352 shares of the energy producer’s stock worth $1,015,000 after purchasing an additional 158 shares during the period. Equity Investment Corp Acquisition Inc grew its stake in shares of ConocoPhillips by 29.1% during the first quarter. Equity Investment Corp Acquisition Inc now owns 2,061,790 shares of the energy producer’s stock worth $102,821,000 after purchasing an additional 464,621 shares during the period. Savant Capital LLC grew its stake in shares of ConocoPhillips by 16.3% during the first quarter. Savant Capital LLC now owns 7,472 shares of the energy producer’s stock worth $373,000 after purchasing an additional 1,048 shares during the period. Finally, Northstar Wealth Partners LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth $238,000. Institutional investors own 69.83% of the company’s stock.
COP has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Jefferies Group LLC set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.37.
Shares of ConocoPhillips (COP) opened at $50.47 on Monday. The company has a market capitalization of $60,340.00, a PE ratio of 2,523.50, a PEG ratio of 12.40 and a beta of 1.28. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $54.22. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period in the previous year, the company posted ($0.66) earnings per share. sell-side analysts anticipate that ConocoPhillips will post 0.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is -53.27%.
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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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