Kornitzer Capital Management Inc. KS lessened its position in shares of ConocoPhillips (NYSE:COP) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 815,882 shares of the energy producer’s stock after selling 12,608 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.07% of ConocoPhillips worth $40,835,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of COP. Wellington Management Group LLP grew its stake in ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares during the last quarter. BlackRock Inc. boosted its stake in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares during the last quarter. FMR LLC boosted its stake in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. AJO LP boosted its stake in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock worth $131,353,000 after buying an additional 2,891,652 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after buying an additional 2,134,292 shares during the last quarter. Institutional investors and hedge funds own 69.62% of the company’s stock.
A number of analysts have recently commented on COP shares. Royal Bank of Canada upped their target price on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Credit Suisse Group started coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price on the stock. Morgan Stanley upped their target price on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Barclays upped their target price on ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $52.00 target price on shares of ConocoPhillips in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.19.
In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The stock was bought at an average price of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at $52.68 on Wednesday. The firm has a market capitalization of $62,573.31, a PE ratio of 2,617.00, a P/E/G ratio of 12.62 and a beta of 1.26. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.22. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $7.20 billion during 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 quarter in the prior year, the firm posted ($0.66) EPS. analysts forecast that ConocoPhillips will post 0.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were issued a $0.265 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.01%. ConocoPhillips’s payout ratio is -57.30%.
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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