Segment Wealth Management LLC Sells 627 Shares of ConocoPhillips (COP)
Segment Wealth Management LLC decreased its position in ConocoPhillips (NYSE:COP) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,745 shares of the company’s stock after selling 627 shares during the period. Segment Wealth Management LLC’s holdings in ConocoPhillips were worth $207,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of ConocoPhillips by 4.2% in the first quarter. State Street Corp now owns 56,542,943 shares of the company’s stock valued at $2,276,976,000 after buying an additional 2,293,983 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of ConocoPhillips by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 32,736,116 shares of the company’s stock valued at $1,318,283,000 after buying an additional 522,198 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of ConocoPhillips by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 14,091,927 shares of the company’s stock valued at $614,409,000 after buying an additional 320,848 shares in the last quarter. BlackRock Group LTD increased its stake in shares of ConocoPhillips by 0.3% in the first quarter. BlackRock Group LTD now owns 12,121,796 shares of the company’s stock valued at $488,146,000 after buying an additional 41,306 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of ConocoPhillips by 16.6% in the second quarter. Ameriprise Financial Inc. now owns 12,097,088 shares of the company’s stock valued at $527,432,000 after buying an additional 1,718,788 shares in the last quarter. 63.81% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) opened at 39.87 on Friday. The firm’s market cap is $49.38 billion. The firm’s 50-day moving average price is $41.61 and its 200-day moving average price is $42.52. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24.
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 analysts’ consensus estimates of ($0.61) by $0.18. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was down 35.6% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post ($2.45) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. ConocoPhillips’s payout ratio is -17.57%.
Several equities research analysts have weighed in on COP shares. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 price target for the company in a report on Monday, September 12th. Vetr raised ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price target for the company in a report on Monday, September 12th. Bank of America Corp. reissued a “buy” rating and issued a $71.00 price target on shares of ConocoPhillips in a report on Friday, June 3rd. Simmons reissued a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. Finally, Deutsche Bank AG restated a “buy” rating on shares of ConocoPhillips in a research note on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.63.
In other ConocoPhillips news, Director Arjun N. Murti bought 6,500 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was acquired at an average cost of $39.72 per share, with a total value of $258,180.00. Following the purchase, the director now owns 19,000 shares in the company, valued at approximately $754,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Ellen Desanctis bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were acquired at an average cost of $40.50 per share, with a total value of $202,500.00. Following the completion of the purchase, the vice president now owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
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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