Northern Oak Wealth Management Inc. Has $715,000 Position in ConocoPhillips (NYSE:COP)
Northern Oak Wealth Management Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 9.5% during the first quarter, Holdings Channel reports. The firm owned 14,332 shares of the energy producer’s stock after selling 1,497 shares during the period. Northern Oak Wealth Management Inc.’s holdings in ConocoPhillips were worth $715,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of COP. Financial Management Professionals Inc. boosted its position in shares of 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 during the period. Gemmer Asset Management LLC boosted 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 valued at $108,000 after buying an additional 8 shares during the period. Alpha Windward LLC boosted 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 valued at $277,000 after buying an additional 52 shares during the period. Moloney Securities Asset Management LLC boosted 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 valued at $469,000 after buying an additional 69 shares during the period. Finally, Barber Financial Group Inc. boosted 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 valued at $360,000 after buying an additional 74 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips (COP) traded up 0.42% during midday trading on Monday, hitting $44.98. The stock had a trading volume of 1,337,507 shares. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The firm’s market cap is $54.74 billion. The stock has a 50-day moving average price of $44.17 and a 200 day moving average price of $46.50.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analysts’ expectations of $6.74 billion. During the same period last year, the company posted ($0.79) EPS. On average, equities analysts anticipate that ConocoPhillips will post $0.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.37%. ConocoPhillips’s dividend payout ratio (DPR) is -34.98%.
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Several equities analysts have recently issued reports on the company. Bank of America Corporation cut ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $67.00 in a report on Thursday, May 11th. Scotiabank set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. Wolfe Research cut ConocoPhillips from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Guggenheim began coverage on ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating for the company. Finally, ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.18.
In other news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.
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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