Massmutual Trust Co. FSB ADV trimmed its stake in shares of ConocoPhillips (NYSE: COP – Get Rating) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,870 shares of the energy producer’s stock after selling 851 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in ConocoPhillips were worth $ 6,487,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. WealthPLAN Partners LLC grew its position in shares of ConocoPhillips by 3.6% during the 4th quarter. WealthPLAN Partners LLC now owns 3,315 shares of the energy producer’s stock worth $ 294,000 after buying an additional 116 shares during the period. Syverson Strege & Co increased its holdings in ConocoPhillips by 10.0% during the fourth quarter. Syverson Strege & Co now owns 1,320 shares of the energy producer’s stock worth $ 95,000 after buying an additional 120 shares during the last quarter. Modera Wealth Management LLC increased its holdings in ConocoPhillips by 2.8% during the fourth quarter. Modera Wealth Management LLC now owns 4,472 shares of the energy producer’s stock worth $ 323,000 after buying an additional 121 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of ConocoPhillips by 1.9% in the fourth quarter. Accurate Wealth Management LLC now owns 6,644 shares of the energy producer’s stock valued at $ 481,000 after purchasing an additional 125 shares during the last quarter. Finally, First National Bank of South Miami increased its holdings in shares of ConocoPhillips by 10.0% in the fourth quarter. First National Bank of South Miami now owns 1,484 shares of the energy producer’s stock valued at $ 107,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 78.80% of the company stock.
Several research firms recently weighed in on COP. Mizuho upped their price objective on shares of ConocoPhillips from $ 150.00 to $ 157.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. Societe Generale upped their price objective on ConocoPhillips to $ 127.00 in a research note on Thursday, June 9th. Susquehanna Bancshares increased their target price on shares of ConocoPhillips from $ 108.00 to $ 129.00 in a research report on Monday, April 25th. Barclays raised their price objective on shares of ConocoPhillips from $ 132.00 to $ 142.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. Finally, Susquehanna increased their target price on ConocoPhillips from $ 108.00 to $ 129.00 in a report on Monday, April 25th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and an average target price of $ 108.61.
Shares of COP opened at $ 93.74 on Tuesday. The business has a 50-day moving average of $ 105.20 and a 200 day moving average of $ 94.17. ConocoPhillips has a fifty-two week low of $ 51.41 and a fifty-two week high of $ 124.08. The firm has a market cap of $ 121.25 billion, a P / E ratio of 9.66, a price-to-earnings-growth ratio of 0.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51.
ConocoPhillips (NYSE: COP – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The energy producer reported $ 3.27 earnings per share for the quarter, topping the consensus estimate of $ 3.24 by $ 0.03. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The company had revenue of $ 19.29 billion during the quarter, compared to analyst estimates of $ 18.36 billion. During the same quarter last year, the firm posted $ 0.69 EPS. The firm’s revenue for the quarter was up 82.7% on a year-over-year basis. As a group, research analysts predict that ConocoPhillips will post 15 earnings per share for the current fiscal year.
The business also recently announced a dividend, which will be paid on Friday, July 15th. Shareholders of record on Tuesday, June 28th will be issued a dividend of $ 0.70 per share. This represents a yield of 3.21%. The ex-dividend date of this dividend is Monday, June 27th. This is a positive change from ConocoPhillips’s previous dividend of $ 0.30. ConocoPhillips’s payout ratio is presently 18.97%.
In other news, CEO Ryan Michael Lance sold 584,900 shares of ConocoPhillips stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $ 121.21, for a total transaction of $ 70,895,729.00. Following the completion of the sale, the chief executive officer now owns 44,522 shares in the company, valued at approximately $ 5,396,511.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 19,200 shares of ConocoPhillips stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 110.51, for a total value of $ 2,121,792.00. The disclosure for this sale can be found here. Insiders have sold a total of 644,703 shares of company stock valued at $ 77,172,426 in the last ninety days. Insiders own 0.40% of the company stock.
ConocoPhillips Company Profile: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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