ConocoPhillips (COP) Shares Bought by Seaward Management Limited Partnership
Seaward Management Limited Partnership boosted its position in ConocoPhillips (NYSE:COP) by 0.0% during the first quarter, Holdings Channel reports. The institutional investor owned 74,664 shares of the energy producer’s stock after buying an additional 30 shares during the period. Seaward Management Limited Partnership’s holdings in ConocoPhillips were worth $3,723,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares in the last quarter. FMR LLC raised its position in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. State Street Corp raised its position in ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares in the last quarter. First Eagle Investment Management LLC raised its position in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock worth $116,945,000 after buying an additional 1,000,000 shares in the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded down 0.32% during mid-day trading on Thursday, reaching $43.55. 1,360,651 shares of the company’s stock traded hands. The stock’s market cap is $53.00 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm has a 50 day moving average price of $44.16 and a 200-day moving average price of $46.34.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same period last year, the firm earned ($0.79) EPS. On average, analysts predict that ConocoPhillips will post $0.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is currently -34.98%.
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COP has been the subject of a number of research analyst reports. BidaskClub lowered shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Citigroup Inc. cut their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.18.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is owned by company insiders.
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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