Nationwide Fund Advisors Sells 10,849 Shares of ConocoPhillips (COP)
Nationwide Fund Advisors lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,855 shares of the energy producer’s stock after selling 10,849 shares during the quarter. Nationwide Fund Advisors owned about 0.06% of ConocoPhillips worth $31,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Comerica Securities Inc. boosted its position in ConocoPhillips by 5.0% during the second quarter. Comerica Securities Inc. now owns 64,916 shares of the energy producer’s stock valued at $2,854,000 after purchasing an additional 3,088 shares in the last quarter. Courier Capital LLC boosted its position in ConocoPhillips by 2.7% during the second quarter. Courier Capital LLC now owns 8,227 shares of the energy producer’s stock valued at $362,000 after purchasing an additional 220 shares in the last quarter. Captrust Financial Advisors bought a new stake in ConocoPhillips during the second quarter valued at about $727,000. Norinchukin Bank The boosted its position in ConocoPhillips by 2.8% during the second quarter. Norinchukin Bank The now owns 154,696 shares of the energy producer’s stock valued at $6,800,000 after purchasing an additional 4,188 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in ConocoPhillips by 2.8% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 15,982 shares of the energy producer’s stock valued at $703,000 after purchasing an additional 442 shares in the last quarter. 70.08% of the stock is currently owned by institutional investors.
ConocoPhillips (NYSE:COP) opened at $52.99 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $63,350.39, a P/E ratio of 2,649.50, a P/E/G ratio of 13.72 and a beta of 1.28. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $54.22.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.66) earnings per share. equities analysts predict that ConocoPhillips will post 0.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
A number of brokerages recently weighed in on COP. Wolfe Research downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC set a $59.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 30th. Citigroup Inc. dropped their price objective on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $55.00 price objective (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Hold” and an average 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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