Texas Yale Capital Corp. Sells 29 Shares of ConocoPhillips (COP)
Texas Yale Capital Corp. cut its stake in ConocoPhillips (NYSE:COP) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,686 shares of the energy producer’s stock after selling 29 shares during the period. Texas Yale Capital Corp.’s holdings in ConocoPhillips were worth $294,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after purchasing an additional 2,452,533 shares in the last quarter. FMR LLC increased its holdings in ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. Macquarie Group Ltd. increased its holdings in ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after purchasing an additional 176,055 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ConocoPhillips by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after purchasing an additional 397,339 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips (COP) opened at 49.72 on Tuesday. ConocoPhillips has a 52-week low of $40.37 and a 52-week high of $53.17. The company’s market capitalization is $60.51 billion. The stock has a 50 day moving average price of $47.32 and a 200 day moving average price of $46.11.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period in the prior year, the business posted ($0.79) earnings per share. Analysts anticipate that ConocoPhillips will post $0.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.13%. ConocoPhillips’s payout ratio is -34.98%.
A number of equities research analysts recently weighed in on COP shares. Scotiabank reaffirmed a “buy” rating and set a $52.00 price target on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. BidaskClub cut ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Citigroup Inc. dropped their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 16th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $54.15.
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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