Beck Mack & Oliver LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 3.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 193,851 shares of the energy producer’s stock after selling 6,531 shares during the period. Beck Mack & Oliver LLC’s holdings in ConocoPhillips were worth $9,702,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Financial Management Professionals Inc. raised its holdings in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares in the last quarter. First Command Bank raised its holdings in shares of ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Massey Quick & Co. LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $123,000. 69.87% of the stock is owned by hedge funds and other institutional investors.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following the transaction, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm posted ($0.66) EPS. equities analysts anticipate that ConocoPhillips will post 0.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s payout ratio is currently -57.30%.
A number of equities research analysts have recently weighed in on the stock. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday. Credit Suisse Group assumed coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a research note on Friday, November 3rd. Finally, Scotiabank reiterated a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.19.
ConocoPhillips Company Profile
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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