ConocoPhillips (COP) Shares Bought by Rockefeller Financial Services Inc.
Rockefeller Financial Services Inc. raised its stake in ConocoPhillips (NYSE:COP) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,884,529 shares of the energy producer’s stock after purchasing an additional 210,413 shares during the quarter. ConocoPhillips comprises approximately 1.6% of Rockefeller Financial Services Inc.’s holdings, making the stock its 19th biggest holding. Rockefeller Financial Services Inc.’s holdings in ConocoPhillips were worth $103,442,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares during the last quarter. Krilogy Financial LLC lifted its holdings in shares of 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. Rocky Mountain Advisers LLC lifted its holdings in shares of ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after acquiring an additional 1,396 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of ConocoPhillips by 111.9% during the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after acquiring an additional 1,399 shares in the last quarter. Finally, Clear Perspective Advisors LLC lifted its holdings in shares of ConocoPhillips by 75.5% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 70.93% of the company’s stock.
Several equities analysts recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and set a $63.00 target price on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Macquarie assumed coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They set an “outperform” rating on the stock. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Barclays lifted their target price on shares of ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $59.06.
Shares of ConocoPhillips (NYSE:COP) opened at $53.32 on Wednesday. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The stock has a market cap of $62,869.28, a price-to-earnings ratio of 73.16, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the firm posted ($0.26) EPS. analysts expect that ConocoPhillips will post 2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 9th. This represents a $1.14 annualized dividend and a yield of 2.14%. ConocoPhillips’s payout ratio is -228.00%.
ConocoPhillips announced that its board has authorized a stock buyback program on Wednesday, November 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the energy producer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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