ConocoPhillips (COP) Shares Bought by Leisure Capital Management
Leisure Capital Management increased its stake in shares of ConocoPhillips (NYSE:COP) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,952 shares of the company’s stock after buying an additional 388 shares during the period. Leisure Capital Management’s holdings in ConocoPhillips were worth $1,001,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. State Street Corp raised its position in ConocoPhillips by 4.2% in the first quarter. State Street Corp now owns 56,542,943 shares of the company’s stock worth $2,276,976,000 after buying an additional 2,293,983 shares in the last quarter. Ameriprise Financial Inc. raised its position in ConocoPhillips by 16.6% in the second quarter. Ameriprise Financial Inc. now owns 12,097,088 shares of the company’s stock worth $527,432,000 after buying an additional 1,718,788 shares in the last quarter. Rockefeller Financial Services Inc. raised its position in ConocoPhillips by 8,313.3% in the second quarter. Rockefeller Financial Services Inc. now owns 1,393,578 shares of the company’s stock worth $60,760,000 after buying an additional 1,377,014 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in ConocoPhillips during the second quarter worth approximately $46,653,000. Finally, American Century Companies Inc. raised its position in ConocoPhillips by 452.1% in the second quarter. American Century Companies Inc. now owns 878,900 shares of the company’s stock worth $38,320,000 after buying an additional 719,722 shares in the last quarter. 63.81% of the stock is currently owned by institutional investors.
ConocoPhillips (NYSE:COP) traded down 0.90% on Monday, reaching $39.51. 3,621,149 shares of the company’s stock traded hands. The firm’s 50-day moving average is $41.61 and its 200 day moving average is $42.52. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24. The firm’s market cap is $48.93 billion.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The company earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. Equities analysts predict that ConocoPhillips will post ($2.45) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, July 25th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, July 21st. ConocoPhillips’s dividend payout ratio (DPR) is -17.57%.
COP has been the topic of a number of recent research reports. Bank of America Corp. reaffirmed a “buy” rating and set a $71.00 price target on shares of ConocoPhillips in a research report on Friday, June 3rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. ConocoPhillips currently has an average rating of “Hold” and a consensus target price of $48.63.
In related news, VP Ellen Desanctis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the transaction, the vice president now owns 22,010 shares in the company, valued at $891,405. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun N. Murti acquired 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by corporate insiders.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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