APG Asset Management N.V. Acquires 331,449 Shares of ConocoPhillips (COP)
APG Asset Management N.V. raised its stake in shares of ConocoPhillips (NYSE:COP) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,690,168 shares of the energy producer’s stock after buying an additional 331,449 shares during the period. APG Asset Management N.V.’s holdings in ConocoPhillips were worth $162,220,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. TNB Financial acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $1,336,000. Banced Corp increased its stake in shares of ConocoPhillips by 1.1% in the first quarter. Banced Corp now owns 16,419 shares of the energy producer’s stock valued at $819,000 after buying an additional 183 shares during the period. Alpha Windward LLC increased its stake in shares of ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock valued at $277,000 after buying an additional 52 shares during the period. Prospera Financial Services Inc increased its stake in shares of ConocoPhillips by 50.1% in the first quarter. Prospera Financial Services Inc now owns 14,531 shares of the energy producer’s stock valued at $723,000 after buying an additional 4,853 shares during the period. Finally, BKD Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 6.1% in the first quarter. BKD Wealth Advisors LLC now owns 63,148 shares of the energy producer’s stock valued at $3,149,000 after buying an additional 3,622 shares during the period. 68.68% of the stock is currently owned by institutional investors.
ConocoPhillips (NYSE COP) traded down 1.5171% during midday trading on Wednesday, hitting $43.8249. 2,076,588 shares of the stock traded hands. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The firm’s market cap is $53.33 billion. The company has a 50-day moving average price of $44.16 and a 200-day moving average price of $46.36.
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, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the previous year, the company earned ($0.79) earnings per share. Analysts predict that ConocoPhillips will post $0.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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Several analysts have issued reports on COP shares. Guggenheim started coverage on shares of ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $55.00 price target on shares of ConocoPhillips in a report on Friday, May 5th. Bank of America Corporation downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $67.00 in a report on Thursday, May 11th. BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.
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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