Beck Mack & Oliver LLC lessened its position in ConocoPhillips (NYSE:COP) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,301 shares of the energy producer’s stock after selling 7,939 shares during the quarter. Beck Mack & Oliver LLC’s holdings in ConocoPhillips were worth $4,291,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd bought a new position in ConocoPhillips in the 2nd quarter worth $27,000. Valley National Advisers Inc. grew its position in ConocoPhillips by 64.9% in the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock worth $31,000 after purchasing an additional 198 shares during the last quarter. Manchester Financial Inc. acquired a new stake in ConocoPhillips in the 2nd quarter worth $34,000. AllSquare Wealth Management LLC grew its position in ConocoPhillips by 1,018.0% in the 2nd quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock worth $34,000 after purchasing an additional 509 shares during the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in ConocoPhillips in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 71.45% of the company’s stock.
Shares of ConocoPhillips stock opened at $58.91 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.40 and a current ratio of 2.56. The firm’s 50-day simple moving average is $56.45 and its 200-day simple moving average is $58.01. ConocoPhillips has a twelve month low of $50.13 and a twelve month high of $71.01. The firm has a market cap of $64.10 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be given a dividend of $0.42 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, October 16th. ConocoPhillips’s payout ratio is 37.09%.
Several research firms have issued reports on COP. Warburg Research restated a “neutral” rating and issued a $61.00 price target on shares of ConocoPhillips in a research report on Friday. Morgan Stanley decreased their price target on shares of ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. HSBC restated a “neutral” rating and issued a $59.00 price target on shares of ConocoPhillips in a research report on Tuesday, November 5th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $70.00 to $75.00 in a research report on Monday, September 16th. Six research 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 a consensus price target 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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