ConocoPhillips (COP) Holdings Reduced by Benjamin F. Edwards & Company Inc.
Benjamin F. Edwards & Company Inc. lowered its position in ConocoPhillips (NYSE:COP) by 10.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,642 shares of the energy producer’s stock after selling 1,100 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in ConocoPhillips were worth $483,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in COP. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after purchasing an additional 1,694,618 shares during the period. BlackRock Inc. raised its position in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. FMR LLC raised its position in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. Bank of New York Mellon Corp raised its position in shares of ConocoPhillips by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after purchasing an additional 397,339 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares during the period. Hedge funds and other institutional investors own 69.87% of the company’s stock.
ConocoPhillips (NYSE:COP) traded up $0.20 during trading hours on Tuesday, reaching $51.89. 1,144,580 shares of the company were exchanged, compared to its average volume of 7,095,786. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22. The company has a market capitalization of $61,652.76, a price-to-earnings ratio of 2,578.50, a price-to-earnings-growth ratio of 12.67 and a beta of 1.26. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the firm earned ($0.66) earnings per share. analysts anticipate that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on COP shares. Scotiabank reissued a “buy” rating and issued a $52.00 price objective on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Jefferies Group set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Barclays increased their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen 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 a consensus target price of $55.00.
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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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