ConocoPhillips (COP) Shares Bought by Pillar Pacific Capital Management LLC
Pillar Pacific Capital Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,074 shares of the energy producer’s stock after buying an additional 3,410 shares during the period. Pillar Pacific Capital Management LLC’s holdings in ConocoPhillips were worth $3,893,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Pitcairn Co. acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $222,000. Capital Investment Advisory Services LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $433,000. Calamos Wealth Management LLC increased its position in ConocoPhillips by 6.8% in the fourth quarter. Calamos Wealth Management LLC now owns 44,722 shares of the energy producer’s stock valued at $2,242,000 after buying an additional 2,846 shares during the period. Radnor Capital Management LLC acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $791,000. Finally, Johnson Financial Group Inc. increased its position in ConocoPhillips by 9.9% in the fourth quarter. Johnson Financial Group Inc. now owns 24,640 shares of the energy producer’s stock valued at $1,236,000 after buying an additional 2,225 shares during the period. 68.00% of the stock is currently owned by institutional investors.
ConocoPhillips (NYSE:COP) opened at 46.53 on Friday. The company has a 50-day moving average of $46.03 and a 200-day moving average of $48.16. The company’s market cap is $57.56 billion. ConocoPhillips has a one year low of $38.80 and a one year high of $53.17. ConocoPhillips also was the target of unusually large options trading on Thursday. Stock investors purchased 29,576 put options on the stock. This is an increase of approximately 496% compared to the average daily volume of 4,966 put options.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.47 billion. ConocoPhillips had a negative return on equity of 5.92% and a negative net margin of 5.05%. During the same period in the prior year, the company earned ($0.95) EPS. Equities research analysts expect that ConocoPhillips will post $0.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, May 11th. ConocoPhillips’s dividend payout ratio is currently -95.50%.
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Several equities analysts recently commented on the stock. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and upped their price target for the company from $55.00 to $59.00 in a research note on Wednesday, May 17th. Guggenheim assumed coverage on shares of ConocoPhillips in a research note on Tuesday, April 18th. They issued a “neutral” rating on the stock. Instinet restated a “neutral” rating and issued a $54.00 price target on shares of ConocoPhillips in a research note on Monday, April 3rd. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, Vetr downgraded shares of ConocoPhillips from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $56.92.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by corporate insiders.
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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