Commerce Bank decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 26.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,969 shares of the energy producer’s stock after selling 47,166 shares during the quarter. Commerce Bank’s holdings in ConocoPhillips were worth $4,065,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Squar Milner Financial Services LLC raised its stake in ConocoPhillips by 89.5% during the fourth quarter. Squar Milner Financial Services LLC now owns 953 shares of the energy producer’s stock worth $61,000 after acquiring an additional 450 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in ConocoPhillips during the fourth quarter worth about $643,000. SPC Financial Inc. bought a new position in ConocoPhillips in the 4th quarter worth about $218,000. Landsberg Bennett & Dubbaneh LLC bought a new position in ConocoPhillips in the 4th quarter worth about $531,000. Finally, Stack Financial Management Inc grew its position in ConocoPhillips by 2.1% in the 4th quarter. Stack Financial Management Inc now owns 209,810 shares of the energy producer’s stock worth $13,644,000 after purchasing an additional 4,248 shares during the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.
Shares of NYSE:COP opened at $43.28 on Friday. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.57 and a beta of 1.71. ConocoPhillips has a 1-year low of $20.84 and a 1-year high of $67.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.16. The company has a 50 day moving average price of $37.56 and a 200 day moving average price of $50.97.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.22. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a net margin of 11.51% and a return on equity of 10.02%. During the same period last year, the firm posted $1.00 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post -1.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a $0.42 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.68 annualized dividend and a dividend yield of 3.88%. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.
ConocoPhillips announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 4th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy producer to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several research firms have commented on COP. Royal Bank of Canada restated a “buy” rating and issued a $45.00 target price on shares of ConocoPhillips in a research report on Thursday, April 30th. Raymond James decreased their target price on shares of ConocoPhillips from $63.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Susquehanna Bancshares upped their target price on shares of ConocoPhillips from $40.00 to $50.00 in a research report on Friday, May 1st. Morgan Stanley decreased their target price on shares of ConocoPhillips from $79.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, TheStreet cut shares of ConocoPhillips from a “b-” rating to a “c+” rating in a report on Thursday, March 12th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.19.
In other news, Director David Thomas Seaton purchased 2,400 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $41.03 per share, for a total transaction of $98,472.00. Following the transaction, the director now owns 2,500 shares in the company, valued at $102,575. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
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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