Shulman DeMeo Asset Management LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 2.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,552 shares of the energy producer’s stock after selling 225 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in ConocoPhillips were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its holdings in ConocoPhillips by 7.7% during the third quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock worth $22,388,000 after buying an additional 20,758 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of ConocoPhillips by 3.3% during the 3rd quarter. Nordea Investment Management AB now owns 686,892 shares of the energy producer’s stock valued at $53,165,000 after purchasing an additional 22,183 shares in the last quarter. Morgan Stanley lifted its holdings in shares of ConocoPhillips by 30.0% during the 3rd quarter. Morgan Stanley now owns 6,275,872 shares of the energy producer’s stock valued at $485,752,000 after purchasing an additional 1,449,736 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of ConocoPhillips by 90.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 5,788 shares of the energy producer’s stock valued at $448,000 after purchasing an additional 2,750 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after purchasing an additional 451,104 shares in the last quarter. 74.23% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on COP shares. Barclays reiterated a “buy” rating and set a $79.00 price objective on shares of ConocoPhillips in a report on Friday, January 11th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $82.00 in a report on Sunday, February 3rd. Morgan Stanley set a $77.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus target price of $78.20.
Shares of ConocoPhillips stock opened at $61.92 on Friday. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24. The company has a market capitalization of $69.55 billion, a P/E ratio of 13.67, a PEG ratio of 1.48 and a beta of 1.06. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The business had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same quarter last year, the firm earned $0.96 EPS. Research analysts forecast that ConocoPhillips will post 4.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.93%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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