ConocoPhillips (COP) Position Raised by Advisors Capital Management LLC
Advisors Capital Management LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,874 shares of the energy producer’s stock after purchasing an additional 16,883 shares during the quarter. Advisors Capital Management LLC’s holdings in ConocoPhillips were worth $9,153,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of COP. Financial Management Professionals Inc. lifted its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after buying an additional 6 shares during the last quarter. First Command Bank lifted its stake in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares during the last quarter. Krilogy Financial LLC lifted its stake in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after buying an additional 782 shares during the last quarter. Westside Investment Management Inc. lifted its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after buying an additional 2,000 shares during the last quarter. Finally, Massey Quick & Co. LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $123,000. Hedge funds and other institutional investors own 69.87% of the company’s stock.
A number of equities research analysts have weighed in on COP shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $54.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Scotiabank reiterated a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Jefferies Group set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Morgan Stanley boosted their price objective on ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $55.59.
ConocoPhillips (NYSE:COP) opened at $51.57 on Monday. The stock has a market capitalization of $61,652.76, a P/E ratio of 2,578.50, a PEG ratio of 12.67 and a beta of 1.26. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $54.22.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the previous year, the company posted ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s payout ratio is currently -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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