Cypress Capital Group Holds Stake in ConocoPhillips (COP)
Cypress Capital Group continued to hold its position in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,465 shares of the energy producer’s stock at the end of the first quarter. Cypress Capital Group’s holdings in ConocoPhillips were worth $1,619,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in ConocoPhillips during the first quarter worth about $193,000. First Foundation Advisors bought a new position in ConocoPhillips during the first quarter worth about $497,000. Capital Investment Advisors LLC raised its position in ConocoPhillips by 10.3% in the first quarter. Capital Investment Advisors LLC now owns 26,482 shares of the energy producer’s stock worth $1,321,000 after buying an additional 2,477 shares during the last quarter. Shell Asset Management Co. raised its position in ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock worth $208,197,000 after buying an additional 730,325 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE COP) traded down 0.40% during mid-day trading on Friday, reaching $44.79. The company’s stock had a trading volume of 4,206,885 shares. The firm’s market capitalization is $54.51 billion. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The firm’s 50 day moving average price is $44.17 and its 200 day moving average price is $46.50.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. During the same period last year, the firm earned ($0.79) EPS. On average, analysts anticipate that ConocoPhillips will post $0.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
A number of research analysts have recently issued reports on COP shares. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC reissued a “hold” rating and issued a $55.00 target price on shares of ConocoPhillips in a report on Friday, May 5th. Finally, Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.
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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