ConocoPhillips (COP) Holding Trimmed by Greenleaf Trust

ConocoPhillips (COP) Holding Trimmed by Greenleaf Trust

Greenleaf Trust decreased its stake in shares of ConocoPhillips (NYSE:COP) by 20.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,551 shares of the energy producer’s stock after selling 2,162 shares during the period. Greenleaf Trust’s holdings in ConocoPhillips were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its position in shares of ConocoPhillips by 3.3% in the fourth quarter. State Street Corp now owns 62,935,763 shares of the energy producer’s stock valued at $3,155,606,000 after buying an additional 1,984,973 shares during the period. FMR LLC raised its position in shares of ConocoPhillips by 17.3% in the fourth quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock valued at $2,883,848,000 after buying an additional 8,487,514 shares during the period. Norges Bank acquired a new position in shares of ConocoPhillips during the fourth quarter valued at about $496,521,000. Franklin Resources Inc. raised its position in shares of ConocoPhillips by 156.5% in the fourth quarter. Franklin Resources Inc. now owns 8,242,882 shares of the energy producer’s stock valued at $413,364,000 after buying an additional 5,029,627 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of ConocoPhillips by 5.3% in the fourth quarter. Bessemer Group Inc. now owns 4,693,327 shares of the energy producer’s stock valued at $235,324,000 after buying an additional 235,002 shares during the period. Institutional investors and hedge funds own 65.39% of the company’s stock.

ConocoPhillips (COP) opened at 44.02 on Tuesday. The stock’s 50 day moving average price is $46.85 and its 200-day moving average price is $48.26. ConocoPhillips has a 12 month low of $38.80 and a 12 month high of $53.17. The firm’s market capitalization is $54.46 billion.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) EPS 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 business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same period in the prior year, the business earned ($0.95) EPS. Equities analysts forecast that ConocoPhillips will post $0.57 earnings per share for the current year.

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

Several research analysts have issued reports on COP shares. Bank of America Corp lowered ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $67.00 in a research report on Thursday, May 11th. Jefferies Group LLC restated a “hold” rating and set a $55.00 target price on shares of ConocoPhillips in a research report on Friday, May 5th. Scotiabank set a $57.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, April 6th. Cowen and Company reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Finally, Credit Suisse Group AG set a $60.00 price target on shares of ConocoPhillips and gave the company a “neutral” rating in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.92.

In other news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

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 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”});

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