Pacific Global Investment Management CO Lifted Holding in ConocoPhillips (COP)

Pacific Global Investment Management CO Lifted Holding in ConocoPhillips (COP)

Pacific Global Investment Management CO raised its position in ConocoPhillips (NYSE:COP) by 0.0% during the fourth quarter, Holdings Channel reports. The firm owned 9,854 shares of the company’s stock after buying an additional 1 shares during the period. Pacific Global Investment Management CO’s holdings in ConocoPhillips were worth $494,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Eqis Capital Management Inc. boosted its stake in shares of ConocoPhillips by 13.7% in the third quarter. Eqis Capital Management Inc. now owns 7,610 shares of the company’s stock worth $331,000 after buying an additional 917 shares during the period. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of ConocoPhillips by 4.3% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 83,097 shares of the company’s stock worth $3,612,000 after buying an additional 3,436 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of ConocoPhillips by 15.1% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 13,869 shares of the company’s stock worth $603,000 after buying an additional 1,824 shares during the period. Telemus Capital LLC raised its position in ConocoPhillips by 0.5% in the third quarter. Telemus Capital LLC now owns 6,435 shares of the company’s stock valued at $280,000 after buying an additional 29 shares in the last quarter. Finally, Private Asset Management Inc. raised its position in ConocoPhillips by 0.9% in the third quarter. Private Asset Management Inc. now owns 10,421 shares of the company’s stock valued at $453,000 after buying an additional 98 shares in the last quarter. 65.39% of the stock is currently owned by institutional investors.

ConocoPhillips (NYSE:COP) opened at 45.18 on Wednesday. The company’s market cap is $55.83 billion. ConocoPhillips has a 52-week low of $38.19 and a 52-week high of $53.17. The stock’s 50 day moving average is $47.80 and its 200 day moving average is $46.37.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.16. ConocoPhillips had a negative return on equity of 8.73% and a negative net margin of 14.84%. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. Equities research analysts forecast that ConocoPhillips will post $0.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 14th were issued a dividend of $0.265 per share. The ex-dividend date was Friday, February 10th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.35%. ConocoPhillips’s dividend payout ratio (DPR) is presently -36.43%.

Several research firms have recently commented on COP. Credit Suisse Group AG restated a “hold” rating and set a $53.00 price target on shares of ConocoPhillips in a research report on Monday, December 19th. Howard Weil upgraded shares of ConocoPhillips to a “focus list” rating and upped their price target for the stock from $47.00 to $60.00 in a research report on Thursday, December 15th. JPMorgan Chase & Co. restated an “overweight” rating on shares of ConocoPhillips in a research report on Monday, December 12th. Cowen and Company upgraded shares of ConocoPhillips from a “hold” rating to an “outperform” rating and upped their price target for the stock from $47.00 to $59.00 in a research report on Monday, December 12th. Finally, Wells Fargo & Co restated an “outperform” rating on shares of ConocoPhillips in a research report on Saturday, January 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $55.93.

About ConocoPhillips

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 six segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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