Financial Management Professionals Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 31.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,066 shares of the energy producer’s stock after acquiring an additional 731 shares during the quarter. Financial Management Professionals Inc.’s holdings in ConocoPhillips were worth $175,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in ConocoPhillips in the first quarter worth approximately $332,000. Ontario Teachers Pension Plan Board boosted its stake in ConocoPhillips by 252.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 131,799 shares of the energy producer’s stock worth $8,796,000 after purchasing an additional 94,355 shares during the period. Coldstream Capital Management Inc. acquired a new position in ConocoPhillips in the 1st quarter worth approximately $268,000. Campbell & CO Investment Adviser LLC acquired a new position in ConocoPhillips in the 1st quarter worth approximately $1,372,000. Finally, AlphaCrest Capital Management LLC boosted its stake in ConocoPhillips by 1,347.4% in the 1st quarter. AlphaCrest Capital Management LLC now owns 62,239 shares of the energy producer’s stock worth $4,154,000 after purchasing an additional 57,939 shares during the period. Institutional investors own 71.40% of the company’s stock.
A number of equities analysts recently commented on COP shares. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $75.00 in a research note on Monday, September 16th. Barclays started coverage on shares of ConocoPhillips in a research note on Monday, August 19th. They issued an “overweight” rating and a $79.00 price objective for the company. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $74.00 to $80.00 in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $74.50.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, research analysts anticipate that ConocoPhillips will post 3.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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