ConocoPhillips (COP) Shares Sold by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,220 shares of the energy producer’s stock after selling 11,911 shares during the period. Beck Mack & Oliver LLC’s holdings in ConocoPhillips were worth $6,124,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Icon Advisers Inc. Co. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $4,664,000. United Income Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $243,000. Financial Counselors Inc. increased its holdings in ConocoPhillips by 2.1% during the fourth quarter. Financial Counselors Inc. now owns 196,424 shares of the energy producer’s stock worth $12,247,000 after buying an additional 4,078 shares during the last quarter. Wright Investors Service Inc. increased its holdings in ConocoPhillips by 9.5% during the fourth quarter. Wright Investors Service Inc. now owns 21,838 shares of the energy producer’s stock worth $1,361,000 after buying an additional 1,895 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in ConocoPhillips during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 72.30% of the company’s stock.
A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Societe Generale lowered their target price on shares of ConocoPhillips from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Zacks Investment Research cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. Tudor Pickering raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, December 14th. Finally, BMO Capital Markets set a $78.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Monday, November 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $76.41.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.08. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.60 billion. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 3.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 11th will be given a $0.305 dividend. The ex-dividend date is Friday, February 8th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.80%. ConocoPhillips’s payout ratio is presently 26.93%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
Further Reading: Analyst Ratings Trading
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