12,824 Shares in ConocoPhillips (COP) Acquired by ZWJ Investment Counsel Inc.
ZWJ Investment Counsel Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,824 shares of the energy producer’s stock, valued at approximately $640,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gemmer Asset Management LLC boosted its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares in the last quarter. Advocacy Wealth Management Services LLC boosted its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Advantage Investment Management LLC boosted its position in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after buying an additional 958 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in ConocoPhillips during the first quarter valued at about $131,000. Finally, MCF Advisors LLC boosted its position in ConocoPhillips by 7.4% in the first quarter. MCF Advisors LLC now owns 3,041 shares of the energy producer’s stock valued at $152,000 after buying an additional 210 shares in the last quarter. 68.98% of the stock is currently owned by institutional investors.
ConocoPhillips (NYSE:COP) traded down 0.12% during midday trading on Wednesday, hitting $42.80. 1,511,420 shares of the company traded hands. The firm’s market capitalization is $52.09 billion. The stock’s 50-day moving average is $43.96 and its 200-day moving average is $46.07. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. During the same quarter in the prior year, the business posted ($0.79) EPS. Analysts anticipate that ConocoPhillips will post $0.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.47%. ConocoPhillips’s payout ratio is -34.98%.
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Several research analysts have issued reports on the company. Piper Jaffray Companies set a $45.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and an average target price of $54.13.
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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