ConocoPhillips (COP) Position Lifted by Marshall Wace North America L.P.
Marshall Wace North America L.P. increased its position in ConocoPhillips (NYSE:COP) by 1,658.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,474 shares of the energy producer’s stock after buying an additional 67,410 shares during the period. Marshall Wace North America L.P.’s holdings in ConocoPhillips were worth $3,145,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of COP. Financial Management Professionals Inc. boosted its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the period. First Command Bank boosted its holdings in shares of ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in shares of ConocoPhillips by 65.3% during the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 958 shares during the last quarter. Finally, Reilly Financial Advisors LLC boosted its holdings in shares of ConocoPhillips by 20.5% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 470 shares during the last quarter. 68.85% of the stock is owned by institutional investors.
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Shares of ConocoPhillips (NYSE:COP) opened at 49.71 on Thursday. The stock’s market capitalization is $60.49 billion. The company has a 50-day moving average of $47.78 and a 200-day moving average of $46.13. ConocoPhillips has a 52-week low of $40.96 and a 52-week 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 for the quarter, beating the consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analyst estimates 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 business posted ($0.79) EPS. Equities research analysts anticipate that ConocoPhillips will post $0.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.13%. ConocoPhillips’s payout ratio is -34.98%.
Several research analysts have commented on COP shares. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Morgan Stanley increased their price objective on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Hold” and an average target price of $53.81.
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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