ConocoPhillips (COP) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX lowered its stake in ConocoPhillips (NYSE:COP) by 13.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 237,522 shares of the energy producer’s stock after selling 36,913 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in ConocoPhillips were worth $10,441,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Foundation Advisors bought a new stake in shares of ConocoPhillips in the 1st quarter worth about $497,000. FMR LLC increased its position in shares of ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after purchasing an additional 3,982,002 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of ConocoPhillips by 12.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 210,916 shares of the energy producer’s stock worth $10,518,000 after purchasing an additional 23,434 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of ConocoPhillips by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,761,900 shares of the energy producer’s stock worth $87,866,000 after purchasing an additional 38,271 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of ConocoPhillips by 21.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock worth $208,197,000 after purchasing an additional 730,325 shares during the last quarter. 68.90% of the stock is owned by institutional investors.
ConocoPhillips (NYSE COP) traded up 0.80% on Friday, reaching $49.08. 7,388,171 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $44.59 and a 200-day moving average of $45.61. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s market capitalization is $59.73 billion.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted ($0.79) EPS. On average, equities analysts expect that ConocoPhillips will post $0.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is currently -34.98%.
Several research firms have recently weighed in on COP. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $45.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has an average rating of “Buy” and an average target price of $54.19.
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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