UBS Oconnor LLC Invests $4.49 Million in ConocoPhillips (COP) Stock
UBS Oconnor LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 102,229 shares of the energy producer’s stock, valued at approximately $4,494,000.
A number of other hedge funds have also added to or reduced their stakes in COP. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after buying an additional 1,694,618 shares during the period. BlackRock Inc. grew its stake in shares of 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 during the period. State Street Corp grew its stake in shares of 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 during the period. FMR LLC grew its stake in shares of 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 during the period. Finally, Macquarie Group Ltd. grew its stake in shares of ConocoPhillips by 1.1% in the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after buying an additional 176,055 shares during the period. Institutional investors own 69.83% of the company’s stock.
ConocoPhillips (NYSE COP) opened at $50.22 on Friday. 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 cap of $60,038.82, a P/E ratio of 2,511.00, a P/E/G ratio of 12.34 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 posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter last year, the company posted ($0.66) EPS. analysts expect that ConocoPhillips will post 0.54 earnings per share 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 given a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips’s payout ratio is currently -57.30%.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Wednesday, November 1st. Finally, Jefferies Group LLC set a $59.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $55.37.
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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