ConocoPhillips (COP) Stake Lessened by Dupont Capital Management Corp
Dupont Capital Management Corp cut its stake in ConocoPhillips (NYSE:COP) by 13.2% in the 1st quarter, HoldingsChannel reports. The fund owned 262,327 shares of the energy producer’s stock after selling 40,046 shares during the period. Dupont Capital Management Corp’s holdings in ConocoPhillips were worth $17,508,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Ballast Inc. bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $201,000. Mogy Joel R Investment Counsel Inc. bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $208,000. Osborn Williams & Donohoe LLC boosted its holdings in ConocoPhillips by 50.0% during the first quarter. Osborn Williams & Donohoe LLC now owns 10,725 shares of the energy producer’s stock worth $712,000 after buying an additional 3,576 shares in the last quarter. Howe & Rusling Inc. boosted its holdings in ConocoPhillips by 40.2% during the first quarter. Howe & Rusling Inc. now owns 22,417 shares of the energy producer’s stock worth $1,496,000 after buying an additional 6,433 shares in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in ConocoPhillips by 50.6% during the first quarter. Duncker Streett & Co. Inc. now owns 23,809 shares of the energy producer’s stock worth $1,589,000 after buying an additional 8,001 shares in the last quarter. Institutional investors and hedge funds own 74.23% of the company’s stock.
Shares of NYSE:COP opened at $61.00 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. The company has a market capitalization of $70.34 billion, a P/E ratio of 13.47, a PEG ratio of 1.49 and a beta of 1.06. ConocoPhillips has a 52 week low of $56.75 and a 52 week high of $80.24.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.305 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.22 annualized dividend and a dividend yield of 2.00%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
A number of brokerages recently weighed in on COP. ValuEngine cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 15th. Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. Finally, Morgan Stanley set a $77.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $78.20.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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