OLD Point Trust & Financial Services N A boosted its holdings in ConocoPhillips (NYSE:COP) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,241 shares of the energy producer’s stock after acquiring an additional 1,470 shares during the period. ConocoPhillips accounts for 2.5% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 17th biggest position. OLD Point Trust & Financial Services N A’s holdings in ConocoPhillips were worth $5,199,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild & Co Wealth Management UK Ltd bought a new stake in ConocoPhillips in the 2nd quarter valued at $27,000. Valley National Advisers Inc. raised its stake in ConocoPhillips by 64.9% in the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after acquiring an additional 198 shares during the period. Towerpoint Wealth LLC bought a new stake in ConocoPhillips in the 2nd quarter valued at $32,000. Manchester Financial Inc. bought a new stake in ConocoPhillips in the 2nd quarter valued at $34,000. Finally, AllSquare Wealth Management LLC raised its stake in ConocoPhillips by 1,018.0% in the 2nd quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 509 shares during the period. Institutional investors and hedge funds own 71.42% of the company’s stock.
A number of research firms recently weighed in on COP. Morgan Stanley dropped their price target on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Co reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group set a $67.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Zacks Investment Research raised ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.08.
NYSE:COP traded down $0.44 during trading hours on Monday, reaching $55.91. 440,495 shares of the company were exchanged, compared to its average volume of 5,705,819. The company has a market capitalization of $62.35 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.66 and a beta of 1.05. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.64. The business has a 50 day moving average of $56.45 and a 200 day moving average of $58.73.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $9.42 billion. During the same quarter last year, the business earned $1.09 EPS. ConocoPhillips’s revenue was down 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be given a dividend of $0.42 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.68 annualized dividend and a yield of 3.00%. ConocoPhillips’s dividend payout ratio is currently 37.09%.
ConocoPhillips Company Profile
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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