Capital World Investors Has $1.55 Billion Position in ConocoPhillips (COP)
Capital World Investors lessened its position in ConocoPhillips (NYSE:COP) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,236,222 shares of the energy producer’s stock after selling 998,906 shares during the quarter. Capital World Investors owned about 2.90% of ConocoPhillips worth $1,548,984,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. AHL Partners LLP bought a new position in shares of ConocoPhillips during the 2nd quarter worth about $994,000. First City Capital Management Inc. increased its holdings in shares of ConocoPhillips by 1.4% during the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after purchasing an additional 75 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in shares of ConocoPhillips by 3.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 195,123 shares of the energy producer’s stock worth $8,578,000 after purchasing an additional 6,521 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of ConocoPhillips by 3.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 29,890 shares of the energy producer’s stock worth $1,314,000 after purchasing an additional 1,098 shares during the period. Finally, Sun Life Financial INC increased its holdings in shares of ConocoPhillips by 27,463.6% during the 2nd quarter. Sun Life Financial INC now owns 9,096 shares of the energy producer’s stock worth $400,000 after purchasing an additional 9,063 shares during the period. Hedge funds and other institutional investors own 69.83% of the company’s stock.
Several research analysts have recently issued reports on COP shares. Jefferies Group LLC set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Barclays PLC boosted their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.37.
ConocoPhillips (NYSE COP) opened at $50.47 on Friday. The company has a market cap of $60,038.82, a PE ratio of 2,511.00, a price-to-earnings-growth ratio of 12.34 and a beta of 1.28. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the previous year, the business earned ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.
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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