Paragon Capital Management LLC cut its stake in ConocoPhillips (NYSE:COP) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,207 shares of the energy producer’s stock after selling 5,458 shares during the quarter. ConocoPhillips accounts for about 2.3% of Paragon Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Paragon Capital Management LLC’s holdings in ConocoPhillips were worth $7,218,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in COP. Financial Management Professionals Inc. grew its stake in shares of ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the period. First Command Bank grew its stake in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares during the period. Westside Investment Management Inc. grew its stake in shares of ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares during the period. Reilly Financial Advisors LLC grew its stake in shares of ConocoPhillips by 20.5% in the second quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock worth $121,000 after acquiring an additional 470 shares during the period. Finally, Massey Quick & Co. LLC bought a new stake in shares of ConocoPhillips in the first quarter worth approximately $123,000. Hedge funds and other institutional investors own 69.83% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Jefferies Group LLC set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Barclays PLC raised their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.37.
ConocoPhillips (COP) opened at $50.08 on Tuesday. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The company has a market cap of $59,930.00, a price-to-earnings ratio of 2,506.50, a PEG ratio of 12.32 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. research analysts expect that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently -53.27%.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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