ConocoPhillips (COP) Position Lowered by Evercore Wealth Management LLC
Evercore Wealth Management LLC lowered its position in ConocoPhillips (NYSE:COP) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,804 shares of the energy producer’s stock after selling 6,197 shares during the period. Evercore Wealth Management LLC’s holdings in ConocoPhillips were worth $1,926,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in ConocoPhillips by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after purchasing an additional 1,694,618 shares in the last quarter. BlackRock Inc. increased its holdings in ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after purchasing an additional 6,197,896 shares in the last quarter. 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 worth $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 worth $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. Finally, 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 worth $797,013,000 after purchasing an additional 176,055 shares in the last quarter. Institutional investors and hedge funds own 69.83% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at $50.08 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The stock has a market cap of $59,930.00, a P/E ratio of 2,506.50, a price-to-earnings-growth ratio of 12.32 and a beta of 1.28. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.22.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period last year, the business posted ($0.66) earnings per share. sell-side analysts anticipate that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.12%. ConocoPhillips’s dividend payout ratio (DPR) is presently -53.27%.
A number of equities analysts have recently commented on the stock. Scotiabank restated a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a research note on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Jefferies Group LLC set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Bank of America Corporation upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $58.00 in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $55.37.
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.
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