Massey Quick & Co. LLC Lowers Stake in ConocoPhillips (COP)
Massey Quick & Co. LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,349 shares of the energy producer’s stock after selling 111 shares during the period. Massey Quick & Co. LLC’s holdings in ConocoPhillips were worth $103,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in ConocoPhillips by 255.3% in the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares in the last quarter. BlackRock Inc. boosted its stake in ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after buying an additional 6,197,896 shares in the last quarter. FMR LLC boosted its stake in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. AJO LP boosted its stake in ConocoPhillips by 3,000.7% in the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after buying an additional 2,891,652 shares in the last quarter. Finally, State Street Corp boosted its stake in ConocoPhillips by 3.9% in the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after buying an additional 2,452,533 shares in the last quarter. Institutional investors and hedge funds own 69.83% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at $50.13 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a one year low of $42.26 and a one year high of $54.22. The stock has a market capitalization of $59,931.22, a price-to-earnings ratio of 2,506.50, a PEG ratio of 12.32 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the prior year, the company posted ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.11%. ConocoPhillips’s dividend payout ratio is presently -57.30%.
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Several analysts recently commented on COP shares. Scotiabank reaffirmed a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research note on Friday, September 8th. Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $51.00 to $58.00 in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $55.37.
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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