Intersect Capital LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 29.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,319 shares of the energy producer’s stock after selling 2,176 shares during the quarter. Intersect Capital LLC’s holdings in ConocoPhillips were worth $303,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of COP. Rothschild & Co Wealth Management UK Ltd bought a new stake in ConocoPhillips in the 2nd quarter valued at about $27,000. Valley National Advisers Inc. boosted its stake in ConocoPhillips by 64.9% during the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Towerpoint Wealth LLC acquired a new position in ConocoPhillips during the 2nd quarter valued at about $32,000. Manchester Financial Inc. acquired a new position in ConocoPhillips during the 2nd quarter valued at about $34,000. Finally, AllSquare Wealth Management LLC boosted its stake in ConocoPhillips by 1,018.0% during the 2nd quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 509 shares during the last quarter. 71.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE COP traded down $0.25 during midday trading on Monday, reaching $58.91. The company’s stock had a trading volume of 3,704,734 shares, compared to its average volume of 6,586,995. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $71.01. The firm has a 50 day moving average price of $56.52 and a 200-day moving average price of $58.08. The stock has a market capitalization of $64.10 billion, a P/E ratio of 13.00, a PEG ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The firm had revenue of $10.09 billion for the quarter, compared to the consensus estimate of $7.06 billion. During the same quarter in the previous year, the business earned $1.36 EPS. On average, equities analysts predict that ConocoPhillips will post 3.62 EPS for the current 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 paid a $0.42 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, October 16th. This represents a $1.68 annualized dividend and a yield of 2.85%. ConocoPhillips’s dividend payout ratio is presently 37.09%.
COP has been the subject of a number of analyst reports. UBS Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $75.00 in a research note on Monday, September 16th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, July 17th. Baader Bank reiterated a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research note on Tuesday, October 29th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Warburg Research reiterated a “neutral” rating and set a $61.00 price target on shares of ConocoPhillips in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $69.81.
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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