Paragon Capital Management Ltd purchased a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,952 shares of the energy producer’s stock, valued at approximately $272,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Krilogy Financial LLC grew its position in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC grew its position in ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after acquiring an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC grew its position in ConocoPhillips by 75.5% in the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares in the last quarter. Lloyds Banking Group plc purchased a new position in ConocoPhillips in the second quarter worth about $127,000. Finally, TLP Group LLC purchased a new position in ConocoPhillips in the second quarter worth about $142,000. Institutional investors own 69.66% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at $55.94 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $61.31. The stock has a market cap of $67,942.62, a PE ratio of -111.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. The firm had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. equities analysts forecast that ConocoPhillips will post 2.54 EPS for the current year.
ConocoPhillips announced that its board has authorized a stock buyback plan on Wednesday, November 8th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the energy producer to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s payout ratio is currently -212.00%.
In related news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.
Several research analysts recently commented on COP shares. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, December 13th. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a research report on Friday, December 22nd. Credit Suisse Group started coverage on ConocoPhillips in a research report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target for the company. Royal Bank of Canada lifted their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Barclays raised their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.71.
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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