TIAA CREF Trust Co. FSB MO raised its position in shares of ConocoPhillips (NYSE:COP) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,697 shares of the energy producer’s stock after buying an additional 5,191 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in ConocoPhillips were worth $3,924,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Norges Bank acquired a new position in ConocoPhillips during the fourth quarter worth $496,521,000. FMR LLC increased its position in ConocoPhillips by 17.3% in the fourth quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock worth $2,883,848,000 after buying an additional 8,487,514 shares in the last quarter. Franklin Resources Inc. increased its position in ConocoPhillips by 156.5% in the fourth quarter. Franklin Resources Inc. now owns 8,242,882 shares of the energy producer’s stock worth $413,364,000 after buying an additional 5,029,627 shares in the last quarter. Asset Management One Co. Ltd. increased its position in ConocoPhillips by 1,125.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,210,409 shares of the energy producer’s stock worth $110,902,000 after buying an additional 2,030,017 shares in the last quarter. Finally, State Street Corp increased its position in ConocoPhillips by 3.3% in the fourth quarter. State Street Corp now owns 62,935,763 shares of the energy producer’s stock worth $3,155,606,000 after buying an additional 1,984,973 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at 44.83 on Friday. The stock’s 50 day moving average is $45.94 and its 200 day moving average is $48.15. The firm’s market capitalization is $55.46 billion. ConocoPhillips has a 12 month low of $38.80 and a 12 month high of $53.17.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.05. ConocoPhillips had a negative return on equity of 5.92% and a negative net margin of 5.05%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the prior year, the business posted ($0.95) earnings per share. Equities research analysts forecast that ConocoPhillips will post $0.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 11th. ConocoPhillips’s dividend payout ratio is currently -95.50%.
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A number of research analysts have recently weighed in on COP shares. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Scotiabank set a $53.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Monday, March 27th. TheStreet upgraded shares of ConocoPhillips from a “d+” rating to a “c” rating in a report on Monday, March 6th. Guggenheim started coverage on shares of ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating on the stock. Finally, Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average price target of $56.80.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is owned by company insiders.
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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