Credit Agricole S A decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,009,632 shares of the energy producer’s stock after selling 36,299 shares during the quarter. Credit Agricole S A owned about 0.08% of ConocoPhillips worth $50,352,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of ConocoPhillips during the first quarter worth $193,000. First Foundation Advisors purchased a new stake in shares of ConocoPhillips during the first quarter worth $497,000. Shell Asset Management Co. grew its holdings in shares of ConocoPhillips by 1.0% during the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of ConocoPhillips by 21.2% during the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock worth $208,197,000 after buying an additional 730,325 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in shares of ConocoPhillips by 16.5% during the first quarter. Bourgeon Capital Management LLC now owns 17,632 shares of the energy producer’s stock worth $879,000 after buying an additional 2,500 shares in the last quarter. 68.99% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE COP) traded up 1.48% during mid-day trading on Friday, hitting $46.51. 11,895,013 shares of the stock traded hands. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The stock has a 50 day moving average price of $44.48 and a 200-day moving average price of $45.66. The company’s market cap is $56.60 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same quarter in the previous year, the business earned ($0.79) EPS. On average, analysts forecast that ConocoPhillips will post $0.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, July 20th. ConocoPhillips’s payout ratio is currently -34.98%.
A number of research firms have recently issued reports on COP. Royal Bank Of Canada set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. dropped their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Jefferies Group LLC set a $59.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $52.00 price objective on shares of ConocoPhillips in a report on Thursday, June 22nd. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $51.00 to $58.00 in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.19.
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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