Beaton Management Co. Inc. Purchases New Holdings in ConocoPhillips (COP)
Beaton Management Co. Inc. purchased a new position in ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,021 shares of the energy producer’s stock, valued at approximately $572,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Financial Management Professionals Inc. raised its stake in ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank raised its stake in ConocoPhillips by 9.4% during the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares in the last quarter. Krilogy Financial LLC raised its stake in ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares in the last quarter. Westside Investment Management Inc. raised its stake in ConocoPhillips by 468.4% during the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Massey Quick & Co. LLC bought a new stake in ConocoPhillips during the 1st quarter valued at $123,000. 69.87% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) opened at $51.29 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $61,856.00, a price-to-earnings ratio of 2,587.00, a P/E/G ratio of 12.71 and a beta of 1.26. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period in the previous year, the firm posted ($0.66) EPS. analysts anticipate that ConocoPhillips will post 0.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s payout ratio is -57.30%.
Several brokerages have weighed in on COP. Royal Bank Of Canada lifted their target price on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Wednesday, November 1st. Barclays boosted their price objective on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company boosted their price objective on ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $55.59.
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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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