ConocoPhillips (NYSE:COP) Position Trimmed by Ladenburg Thalmann Financial Services Inc.
Ladenburg Thalmann Financial Services Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,994 shares of the energy producer’s stock after selling 2,153 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in ConocoPhillips were worth $9,657,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Zebra Capital Management LLC lifted its holdings in shares of ConocoPhillips by 37.4% during the 4th quarter. Zebra Capital Management LLC now owns 6,319 shares of the energy producer’s stock valued at $411,000 after buying an additional 1,720 shares during the last quarter. Logan Capital Management Inc. raised its position in ConocoPhillips by 1.3% during the fourth quarter. Logan Capital Management Inc. now owns 34,294 shares of the energy producer’s stock valued at $2,230,000 after acquiring an additional 436 shares in the last quarter. Point72 Hong Kong Ltd raised its position in ConocoPhillips by 45.9% during the fourth quarter. Point72 Hong Kong Ltd now owns 17,900 shares of the energy producer’s stock valued at $1,164,000 after acquiring an additional 5,634 shares in the last quarter. Point72 Asset Management L.P. raised its position in ConocoPhillips by 119.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,346,889 shares of the energy producer’s stock valued at $152,618,000 after acquiring an additional 1,279,032 shares in the last quarter. Finally, Altavista Wealth Management Inc. lifted its stake in ConocoPhillips by 13.8% in the fourth quarter. Altavista Wealth Management Inc. now owns 22,910 shares of the energy producer’s stock valued at $1,490,000 after acquiring an additional 2,781 shares during the last quarter. Institutional investors own 73.67% of the company’s stock.
Shares of COP stock opened at $30.94 on Thursday. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $69.60. The firm has a market cap of $33.23 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 13.90 and a beta of 1.21. The stock has a 50 day moving average of $46.28 and a 200-day moving average of $56.47. The company has a quick ratio of 2.26, a current ratio of 2.40 and a debt-to-equity ratio of 0.42.
ConocoPhillips announced that its Board of Directors has approved a share buyback program on Tuesday, February 4th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy producer to buy up to 15.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 14th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Thursday, February 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.
In other ConocoPhillips news, SVP Ellen Desanctis sold 41,882 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $58.55, for a total value of $2,452,191.10. Following the sale, the senior vice president now directly owns 32,902 shares in the company, valued at approximately $1,926,412.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.
COP has been the subject of several recent research reports. TheStreet downgraded shares of ConocoPhillips from a “b-” rating to a “c+” rating in a research report on Thursday, March 12th. Scotiabank lowered shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price objective for the company. in a research note on Thursday, January 23rd. UBS Group lifted their price objective on shares of ConocoPhillips from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 24th. MKM Partners initiated coverage on shares of ConocoPhillips in a report on Thursday, December 5th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Susquehanna Bancshares started coverage on shares of ConocoPhillips in a research report on Tuesday, January 14th. They set a “positive” rating and a $80.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $66.05.
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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