ConocoPhillips (COP) Position Increased by Swiss National Bank
Swiss National Bank increased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,515,399 shares of the energy producer’s stock after buying an additional 125,300 shares during the quarter. Swiss National Bank owned 0.37% of ConocoPhillips worth $198,497,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Financial Management Professionals Inc. lifted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. Canal Capital Management LLC lifted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after buying an additional 22 shares during the last quarter. Wendell David Associates Inc. lifted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after buying an additional 26 shares during the last quarter. Sheets Smith Wealth Management lifted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after buying an additional 37 shares during the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in shares of ConocoPhillips by 1.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 68.88% of the company’s stock.
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ConocoPhillips (NYSE:COP) opened at 51.39 on Tuesday. The firm has a 50-day moving average price of $49.09 and a 200 day moving average price of $46.17. The company’s market cap is $62.54 billion. ConocoPhillips has a one year low of $42.26 and a one year high of $53.17.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The firm had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the business earned ($0.66) EPS. Equities analysts expect that ConocoPhillips will post $0.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.06%. ConocoPhillips’s dividend payout ratio (DPR) is -57.30%.
Several analysts recently weighed in on COP shares. Scotiabank restated a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Citigroup Inc. dropped their price objective on 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 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Finally, Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.20.
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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