HM Payson & Co. Has $5.56 Million Position in ConocoPhillips (COP)
HM Payson & Co. reduced its position in shares of ConocoPhillips (NYSE:COP) by 7.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 111,552 shares of the energy producer’s stock after selling 9,020 shares during the period. HM Payson & Co.’s holdings in ConocoPhillips were worth $5,563,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Financial Management Professionals Inc. boosted its stake in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares during the period. Gemmer Asset Management LLC raised its position 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 worth $108,000 after buying an additional 8 shares during the period. Alpha Windward LLC raised its position in shares of ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock worth $277,000 after buying an additional 52 shares during the period. Moloney Securities Asset Management LLC raised its position in shares of ConocoPhillips by 0.7% in the first quarter. Moloney Securities Asset Management LLC now owns 9,401 shares of the energy producer’s stock worth $469,000 after buying an additional 69 shares during the period. Finally, Barber Financial Group Inc. raised its position in shares of ConocoPhillips by 1.0% in the first quarter. Barber Financial Group Inc. now owns 7,213 shares of the energy producer’s stock worth $360,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 68.68% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) traded down 0.887% on Tuesday, reaching $44.145. 1,773,164 shares of the company traded hands. The firm’s 50 day moving average is $44.16 and its 200 day moving average is $46.39. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The company’s market capitalization is $53.72 billion.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Zacks’ 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 quarter last year, the business earned ($0.79) earnings per share. Analysts expect that ConocoPhillips will post $0.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s payout ratio is currently -34.98%.
A number of equities analysts recently issued reports on COP shares. Guggenheim started coverage on shares of ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research report on Friday, May 5th. Bank of America Corporation lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their target price for the stock 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. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued 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 stock was sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with Analyst Ratings Network's FREE daily email newsletter.