Westpac Banking Corp increased its position in ConocoPhillips (NYSE:COP) by 10.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 175,415 shares of the energy producer’s stock after purchasing an additional 16,600 shares during the quarter. Westpac Banking Corp’s holdings in ConocoPhillips were worth $5,761,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its stake in shares of ConocoPhillips by 5.3% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 5,553 shares of the energy producer’s stock valued at $233,000 after buying an additional 278 shares during the period. Wade G W & Inc. grew its stake in shares of ConocoPhillips by 4.2% in the 2nd quarter. Wade G W & Inc. now owns 6,973 shares of the energy producer’s stock valued at $293,000 after buying an additional 284 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of ConocoPhillips by 10.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,026 shares of the energy producer’s stock valued at $127,000 after buying an additional 284 shares during the period. Shufro Rose & Co. LLC lifted its position in ConocoPhillips by 1.3% in the 2nd quarter. Shufro Rose & Co. LLC now owns 24,075 shares of the energy producer’s stock valued at $1,012,000 after acquiring an additional 300 shares in the last quarter. Finally, Assetmark Inc. lifted its position in ConocoPhillips by 2.0% in the 2nd quarter. Assetmark Inc. now owns 16,413 shares of the energy producer’s stock valued at $690,000 after acquiring an additional 317 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.
Several brokerages recently weighed in on COP. Royal Bank of Canada reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, October 14th. Morgan Stanley raised their price target on shares of ConocoPhillips from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, November 17th. ValuEngine raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Monday, November 16th. Truist raised shares of ConocoPhillips to a “buy” rating and raised their price target for the company from $51.00 to $52.00 in a research report on Friday, October 9th. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a research report on Tuesday, August 4th. They issued a “buy” rating and a $52.00 price target on the stock. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.46.
NYSE:COP opened at $39.65 on Friday. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $67.13. The stock has a market capitalization of $42.53 billion, a PE ratio of -35.09 and a beta of 1.70. The company has a current ratio of 2.38, a quick ratio of 2.16 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $33.07 and its 200 day moving average is $38.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 29th. The energy producer reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same quarter in the previous year, the business earned $0.82 earnings per share. Research analysts predict that ConocoPhillips will post -0.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, October 19th will be given a dividend of $0.43 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Friday, October 16th. ConocoPhillips’s payout ratio is 47.91%.
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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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