ConocoPhillips (COP) Stake Lessened by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC decreased its position in ConocoPhillips (NYSE:COP) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,519 shares of the energy producer’s stock after selling 4,111 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ConocoPhillips were worth $7,333,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. grew its position in ConocoPhillips by 1.9% during the first quarter. Prudential Financial Inc. now owns 5,143,375 shares of the energy producer’s stock valued at $256,500,000 after buying an additional 93,430 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in ConocoPhillips by 19.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,428,758 shares of the energy producer’s stock worth $71,252,000 after purchasing an additional 232,700 shares during the period. Stifel Financial Corp boosted its position in ConocoPhillips by 1.8% during the first quarter. Stifel Financial Corp now owns 721,784 shares of the energy producer’s stock worth $35,857,000 after purchasing an additional 12,423 shares during the period. Berkeley Capital Partners LLC boosted its position in ConocoPhillips by 1.8% during the first quarter. Berkeley Capital Partners LLC now owns 7,293 shares of the energy producer’s stock worth $364,000 after purchasing an additional 132 shares during the period. Finally, Clinton Group Inc. bought a new position in ConocoPhillips during the first quarter worth about $2,359,000. Hedge funds and other institutional investors own 69.87% of the company’s stock.
A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, November 3rd. Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Wednesday, November 1st. Barclays increased their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Finally, Wells Fargo & Company increased their target price on shares of ConocoPhillips from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus price target of $55.59.
Shares of ConocoPhillips (NYSE COP) traded down $0.85 on Thursday, reaching $50.38. 4,437,200 shares of the company were exchanged, compared to its average volume of 7,129,374. The stock has a market capitalization of $61,246.29, a P/E ratio of 2,561.50, a P/E/G ratio of 12.58 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $54.22.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion for 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 firm posted ($0.66) earnings per share. research analysts anticipate that ConocoPhillips will post 0.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
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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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