ConocoPhillips (COP) Stake Increased by Bessemer Group Inc.
Bessemer Group Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,893,072 shares of the energy producer’s stock after acquiring an additional 153,674 shares during the period. ConocoPhillips comprises about 1.0% of Bessemer Group Inc.’s investment portfolio, making the stock its 18th biggest holding. Bessemer Group Inc. owned approximately 0.41% of ConocoPhillips worth $244,898,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in COP. Telemus Capital LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $209,000. Swiss National Bank lifted its position in shares of ConocoPhillips by 1.0% during the third quarter. Swiss National Bank now owns 4,560,699 shares of the energy producer’s stock worth $228,263,000 after purchasing an additional 45,300 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of ConocoPhillips by 39.5% during the third quarter. Sunbelt Securities Inc. now owns 8,321 shares of the energy producer’s stock worth $416,000 after purchasing an additional 2,354 shares during the last quarter. Advisor Partners LLC lifted its position in shares of ConocoPhillips by 5.4% during the third quarter. Advisor Partners LLC now owns 20,033 shares of the energy producer’s stock worth $1,003,000 after purchasing an additional 1,021 shares during the last quarter. Finally, IPG Investment Advisors LLC bought a new position in shares of ConocoPhillips during the third quarter worth about $189,000. Institutional investors own 69.62% of the company’s stock.
In related news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.
ConocoPhillips (NYSE COP) opened at $55.50 on Tuesday. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $56.21. 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 company has a market cap of $66,351.14, a P/E ratio of -30.00, a P/E/G ratio of 13.39 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business earned ($0.66) earnings per share. research analysts expect that ConocoPhillips will post 0.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were paid a dividend of $0.265 per share. The ex-dividend date was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.91%. ConocoPhillips’s dividend payout ratio is presently -57.30%.
Several equities analysts have recently commented on the stock. Scotiabank reaffirmed a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a research report on Friday, September 29th. Zacks Investment Research cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Barclays reissued an “overweight” rating and issued a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. Finally, Howard Weil cut shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. ConocoPhillips currently has a consensus rating of “Buy” and an average target price of $55.41.
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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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