ConocoPhillips (COP) Position Increased by Prudential PLC
Prudential PLC lifted its stake in ConocoPhillips (NYSE:COP) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,097 shares of the energy producer’s stock after purchasing an additional 69,800 shares during the period. Prudential PLC’s holdings in ConocoPhillips were worth $13,016,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the last quarter. Sheets Smith Wealth Management raised its position in ConocoPhillips by 0.3% during the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after acquiring an additional 37 shares during the last quarter. Cornerstone Advisors Inc. raised its position in ConocoPhillips by 1.0% during the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after acquiring an additional 37 shares during the last quarter. Genesee Valley Trust Co. raised its position in ConocoPhillips by 0.6% during the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after acquiring an additional 45 shares during the last quarter. Finally, Girard Partners LTD. raised its position in ConocoPhillips by 0.6% during the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 69.83% of the company’s stock.
COP has been the subject of a number of research reports. Scotiabank restated a “buy” rating and set a $52.00 target price on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada lifted their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Barclays PLC boosted 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.37.
ConocoPhillips (COP) opened at $50.47 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a market cap of $60,337.70, a P/E ratio of 2,523.50, a PEG ratio of 12.40 and a beta of 1.28. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the business posted ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.10%. ConocoPhillips’s payout ratio is -57.30%.
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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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