Union Bankshares Corp Has $234,000 Position in ConocoPhillips (COP)
Union Bankshares Corp reduced its holdings in ConocoPhillips (NYSE:COP) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,325 shares of the energy producer’s stock after selling 150 shares during the quarter. Union Bankshares Corp’s holdings in ConocoPhillips were worth $234,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its position in 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 acquiring an additional 2,452,533 shares during the period. FMR LLC increased its position in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. Macquarie Group Ltd. increased its position in shares of ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after purchasing an additional 176,055 shares during the period. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of ConocoPhillips by 21.0% during the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after purchasing an additional 1,744,860 shares during the period. Hedge funds and other institutional investors own 68.90% of the company’s stock.
Several equities analysts have recently issued reports on COP shares. Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Sanford C. Bernstein cut ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.19.
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Shares of ConocoPhillips (COP) traded up 0.80% during mid-day trading on Friday, hitting $49.08. The company’s stock had a trading volume of 7,388,171 shares. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The stock’s market cap is $59.73 billion. The company has a 50-day moving average price of $44.59 and a 200-day moving average price of $45.61. ConocoPhillips also saw unusually large options trading activity on Wednesday. Traders bought 13,607 put options on the company. This represents an increase of 309% compared to the typical volume of 3,327 put options.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS 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 company had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the prior year, the business posted ($0.79) EPS. Analysts predict that ConocoPhillips will post $0.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.16%. ConocoPhillips’s dividend payout ratio is -34.98%.
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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