MEMBERS Trust Co Invests $307,000 in ConocoPhillips (COP)
MEMBERS Trust Co bought a new position in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,163 shares of the energy producer’s stock, valued at approximately $307,000.
A number of other hedge funds have also recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $193,000. First Foundation Advisors purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $497,000. Capital Investment Advisors LLC raised its stake in shares of 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 stake in shares of 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 stake in shares of 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 owned by institutional investors and hedge funds.
ConocoPhillips (COP) traded up 0.2296% during trading on Thursday, reaching $45.7548. The company had a trading volume of 1,180,374 shares. The firm’s 50 day moving average price is $44.17 and its 200 day moving average price is $46.54. The firm’s market capitalization is $55.68 billion. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the firm posted ($0.79) EPS. Equities research analysts forecast that ConocoPhillips will post $0.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 yield of 2.32%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
COP has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the company a “buy” rating in a research 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 set a $55.00 price objective on shares of ConocoPhillips in a report on Friday, May 5th. Finally, Scotiabank set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 1st. Three investment 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 company’s stock. The stock has an average rating of “Hold” and an average target price of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.
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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