Crossvault Capital Management LLC Has $4.60 Million Position in ConocoPhillips (COP)
Crossvault Capital Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,540 shares of the energy producer’s stock after selling 2,175 shares during the period. ConocoPhillips accounts for about 2.8% of Crossvault Capital Management LLC’s portfolio, making the stock its 19th largest position. Crossvault Capital Management LLC’s holdings in ConocoPhillips were worth $4,596,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in COP. First Command Bank boosted its stake in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its stake in shares of ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.
ConocoPhillips (NYSE COP) traded down 0.40% during trading on Friday, hitting $44.79. The company had a trading volume of 4,206,885 shares. The company’s 50 day moving average price is $44.17 and its 200-day moving average price is $46.50. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The company’s market cap is $54.51 billion.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same period last year, the business posted ($0.79) EPS. Equities analysts expect that ConocoPhillips will post $0.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a $0.265 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.37%. ConocoPhillips’s payout ratio is presently -34.98%.
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Several analysts have recently issued reports on the company. Jefferies Group LLC upgraded ConocoPhillips from a “hold” rating to a “buy” rating and increased their price objective for the company from $55.00 to $59.00 in a research note on Wednesday, May 17th. Citigroup Inc. dropped their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 target price on shares of ConocoPhillips in a report on Thursday, June 22nd. Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the company from $51.00 to $58.00 in a report on Friday, July 28th. Finally, Guggenheim began coverage on ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.18.
In related news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.
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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