ConocoPhillips (COP) Shares Reduced by Rockefeller Financial Services Inc.

ConocoPhillips (COP) Shares Reduced by Rockefeller Financial Services Inc.

Rockefeller Financial Services Inc. cut its position in ConocoPhillips (NYSE:COP) by 9.8% during the first quarter, Holdings Channel reports. The fund owned 1,742,388 shares of the energy producer’s stock after selling 188,995 shares during the period. ConocoPhillips accounts for approximately 1.7% of Rockefeller Financial Services Inc.’s holdings, making the stock its 18th largest position. Rockefeller Financial Services Inc.’s holdings in ConocoPhillips were worth $86,893,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Gemmer Asset Management LLC boosted its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC boosted its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the last quarter. Financial Management Professionals Inc. boosted its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares during the last quarter. Advocacy Wealth Management Services LLC boosted its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in ConocoPhillips during the first quarter worth about $131,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.

ConocoPhillips (COP) opened at 44.02 on Tuesday. ConocoPhillips has a 52-week low of $38.80 and a 52-week high of $53.17. The company’s market cap is $54.46 billion. The firm’s 50-day moving average price is $46.85 and its 200-day moving average price is $48.26.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.05. ConocoPhillips had a negative net margin of 14.84% and a negative return on equity of 8.73%. The company 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 firm posted ($0.95) EPS. On average, equities analysts anticipate that ConocoPhillips will post $0.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is -36.43%.

COP has been the subject of a number of research reports. Cowen and Company reiterated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Scotiabank set a $57.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, April 6th. Vetr cut ConocoPhillips from a “strong-buy” rating to a “buy” rating in a report on Friday, March 31st. Royal Bank of Canada reiterated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, February 7th. Finally, Jefferies Group LLC upgraded ConocoPhillips from a “hold” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $56.92.

In related news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “COP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Related posts

Leave a Comment