TIAA CREF Investment Management LLC Sells 50,207 Shares of ConocoPhillips (COP)
TIAA CREF Investment Management LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891,709 shares of the energy producer’s stock after selling 50,207 shares during the period. TIAA CREF Investment Management LLC owned 0.24% of ConocoPhillips worth $127,120,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Teachers Advisors LLC grew its position in shares of ConocoPhillips by 2.7% in the second quarter. Teachers Advisors LLC now owns 2,129,158 shares of the energy producer’s stock valued at $93,598,000 after purchasing an additional 55,165 shares during the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $428,000. HGK Asset Management Inc. grew its position in shares of ConocoPhillips by 1.1% in the second quarter. HGK Asset Management Inc. now owns 331,954 shares of the energy producer’s stock valued at $14,593,000 after purchasing an additional 3,463 shares during the last quarter. Summit Global Investments grew its position in shares of ConocoPhillips by 5.8% in the second quarter. Summit Global Investments now owns 9,537 shares of the energy producer’s stock valued at $419,000 after purchasing an additional 527 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its position in shares of ConocoPhillips by 3.1% in the second quarter. Riverhead Capital Management LLC now owns 14,901 shares of the energy producer’s stock valued at $655,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 70.17% of the company’s stock.
Several equities research analysts have recently issued reports on COP shares. Scotiabank reaffirmed a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Citigroup Inc. lowered their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Finally, Jefferies Group LLC set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $55.37.
Shares of ConocoPhillips (NYSE COP) opened at $52.99 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market capitalization of $63,995.97, a P/E ratio of 2,676.50, a price-to-earnings-growth ratio of 13.86 and a beta of 1.28. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $7.20 billion for 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 period in the previous year, the business earned ($0.66) earnings per share. equities research analysts predict that ConocoPhillips will post 0.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
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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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