TCI Wealth Advisors Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,759 shares of the energy producer’s stock after selling 454 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in ConocoPhillips were worth $214,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in COP. Nuveen Asset Management LLC raised its stake in ConocoPhillips by 12,704.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,385,725 shares of the energy producer’s stock valued at $389,529,000 after purchasing an additional 6,335,852 shares during the period. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 4.0% during the 2nd quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after acquiring an additional 3,103,095 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of ConocoPhillips by 36.4% during the 2nd quarter. Wells Fargo & Company MN now owns 4,998,770 shares of the energy producer’s stock valued at $304,924,000 after acquiring an additional 1,335,051 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of ConocoPhillips by 82.7% during the 2nd quarter. Prudential Financial Inc. now owns 2,821,382 shares of the energy producer’s stock valued at $172,104,000 after acquiring an additional 1,276,955 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of ConocoPhillips by 90.5% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,447,473 shares of the energy producer’s stock valued at $149,297,000 after acquiring an additional 1,162,943 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on COP shares. Barclays started coverage on shares of ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. UBS Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $70.00 to $75.00 in a report on Monday, September 16th. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, July 17th. Goldman Sachs Group set a $67.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 11th. Finally, ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $73.08.
NYSE:COP traded down $0.55 during trading hours on Thursday, reaching $54.06. The company’s stock had a trading volume of 2,077,041 shares, compared to its average volume of 7,234,367. The company has a market cap of $62.31 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. ConocoPhillips has a one year low of $50.13 and a one year high of $74.07. The business’s 50-day moving average is $55.87 and its 200-day moving average is $59.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.02). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 3.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 3.11%. ConocoPhillips’s dividend payout ratio is currently 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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