Forester Capital Management LTD Has $2.65 Million Stake in ConocoPhillips (COP)
Forester Capital Management LTD increased its stake in shares of ConocoPhillips (NYSE:COP) by 3.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 53,128 shares of the energy producer’s stock after buying an additional 1,535 shares during the period. ConocoPhillips makes up approximately 3.2% of Forester Capital Management LTD’s investment portfolio, making the stock its 17th largest position. Forester Capital Management LTD’s holdings in ConocoPhillips were worth $2,649,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of COP. Lodestar Investment Counsel LLC IL boosted its position in ConocoPhillips by 0.4% in the first quarter. Lodestar Investment Counsel LLC IL now owns 29,882 shares of the energy producer’s stock valued at $1,490,000 after buying an additional 115 shares in the last quarter. Financial Management Professionals Inc. boosted its position in 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 in the last quarter. Vicus Capital boosted its position in ConocoPhillips by 1.2% in the first quarter. Vicus Capital now owns 42,902 shares of the energy producer’s stock valued at $2,140,000 after buying an additional 499 shares in the last quarter. Jolley Asset Management LLC boosted its position in ConocoPhillips by 7.1% in the first quarter. Jolley Asset Management LLC now owns 66,757 shares of the energy producer’s stock valued at $3,329,000 after buying an additional 4,414 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted 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 valued at $1,321,000 after buying an additional 2,477 shares in the last quarter. Institutional investors and hedge funds own 68.98% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) traded down 0.964% during midday trading on Tuesday, reaching $42.635. 1,277,044 shares of the company’s stock were exchanged. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The stock’s market cap is $51.88 billion. The company’s 50-day moving average is $43.96 and its 200-day moving average is $46.07.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period in the prior year, the company earned ($0.79) earnings per share. Equities analysts expect that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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Several equities analysts have issued reports on COP shares. Jefferies Group LLC restated a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research note on Friday, May 5th. Bank of America Corporation lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $67.00 in a research report on Thursday, May 11th. BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average target price of $54.13.
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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