Continental Investors Services Inc. acquired a new stake in ConocoPhillips (NYSE:COP – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,994 shares of the energy producer’s stock, valued at approximately $698,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Whalerock Point Partners LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $204,680,000. Semmax Financial Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $33,000. Delos Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 102.0% in the third quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 150 shares during the period. Activest Wealth Management grew its holdings in ConocoPhillips by 30,200.0% during the 3rd quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 302 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its stake in ConocoPhillips by 146.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock worth $31,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.
Insiders Place Their Bets
In other news, Director R A. Walker purchased 4,800 shares of the company’s stock in a transaction on Friday, February 17th. The shares were bought at an average price of $104.50 per share, for a total transaction of $501,600.00. Following the completion of the purchase, the director now owns 22,800 shares of the company’s stock, valued at $2,382,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.
ConocoPhillips Trading Down 2.1 %
ConocoPhillips (NYSE:COP – Get Rating) last posted its earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The company had revenue of $19.26 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 11.79 EPS for the current year.
ConocoPhillips Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 28th. ConocoPhillips’s payout ratio is 14.06%.
Analysts Set New Price Targets
COP has been the subject of a number of analyst reports. Credit Suisse Group decreased their price objective on shares of ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Argus raised their price objective on ConocoPhillips from $125.00 to $150.00 in a research note on Monday, November 21st. Raymond James dropped their price objective on ConocoPhillips from $150.00 to $135.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 26th. Wolfe Research downgraded shares of ConocoPhillips from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $136.86.
About ConocoPhillips
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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