Whittier Trust Co. grew its holdings in ConocoPhillips (NYSE:COP) by 15.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,978 shares of the energy producer’s stock after acquiring an additional 1,635 shares during the period. Whittier Trust Co.’s holdings in ConocoPhillips were worth $710,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after buying an additional 1,500 shares in the last quarter. Rocky Mountain Advisers LLC grew its stake in shares of ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after buying an additional 1,396 shares in the last quarter. Truewealth LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $138,000. First Personal Financial Services grew its stake in shares of ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after buying an additional 1,399 shares in the last quarter. Finally, Delpha Capital Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $149,000. 71.09% of the stock is owned by institutional investors and hedge funds.
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In other ConocoPhillips news, SVP Janet Langford Kelly sold 59,389 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $65.95, for a total value of $3,916,704.55. Following the completion of the sale, the senior vice president now directly owns 100,600 shares of the company’s stock, valued at approximately $6,634,570. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the completion of the sale, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,105 shares of company stock valued at $5,634,288. 0.88% of the stock is owned by corporate insiders.
ConocoPhillips stock opened at $66.86 on Friday. The stock has a market capitalization of $78,230.62, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.86 and a quick ratio of 1.64. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $67.30.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.22. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.68 billion. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. During the same period in the previous year, the company earned ($0.02) EPS. research analysts expect that ConocoPhillips will post 3.49 earnings per share for the current fiscal year.
ConocoPhillips announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the energy producer to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 14th will be given a $0.285 dividend. The ex-dividend date is Friday, May 11th. This represents a $1.14 annualized dividend and a yield of 1.71%. ConocoPhillips’s dividend payout ratio (DPR) is 190.00%.
A number of equities analysts have commented on COP shares. Morgan Stanley lifted their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. Royal Bank of Canada set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, April 13th. Edward Jones cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Finally, Barclays lifted their price target on shares of ConocoPhillips from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus price target of $63.50.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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