Meixler Investment Management Ltd. decreased its position in shares of ConocoPhillips (NYSE:COP – Get Rating) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,929 shares of the energy producer’s stock after selling 251 shares during the quarter. Meixler Investment Management Ltd.’s holdings in ConocoPhillips were worth $293,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in COP. Delos Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 1,300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the last quarter. DeDora Capital Inc. acquired a new stake in shares of ConocoPhillips during the first quarter worth $39,000. Lenox Wealth Advisors LLC grew its holdings in ConocoPhillips by 435.6% in the fourth quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock worth $35,000 after purchasing an additional 392 shares during the period. Pittenger & Anderson Inc. grew its holdings in ConocoPhillips by 49.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock worth $38,000 after purchasing an additional 175 shares during the period. Finally, Tyler Stone Wealth Management bought a new position in shares of ConocoPhillips in the fourth quarter valued at $47,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:COP opened at $90.98 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.41. The business has a 50-day moving average of $103.71 and a two-hundred day moving average of $95.44. The stock has a market capitalization of $117.68 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.32 and a beta of 1.40. ConocoPhillips has a fifty-two week low of $51.41 and a fifty-two week high of $124.08.
ConocoPhillips (NYSE:COP – Get Rating) last announced its earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS 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 business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $18.36 billion. During the same period in the previous year, the business earned $0.69 EPS. ConocoPhillips’s revenue was up 82.7% compared to the same quarter last year. As a group, research analysts expect that ConocoPhillips will post 15 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be paid a dividend of $0.70 per share. This represents a dividend yield of 3.21%. This is an increase from ConocoPhillips’s previous dividend of $0.30. The ex-dividend date is Monday, June 27th. ConocoPhillips’s dividend payout ratio is currently 18.97%.
COP has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of ConocoPhillips from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $135.00 in a research report on Tuesday, March 8th. Barclays raised their price objective on shares of ConocoPhillips from $132.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, June 6th. Finally, Societe Generale boosted their target price on shares of ConocoPhillips to $127.00 in a report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.56.
In other news, CEO Ryan Michael Lance sold 584,900 shares of ConocoPhillips stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the transaction, the chief executive officer now owns 44,522 shares in the company, valued at $5,396,511.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 19,200 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $110.51, for a total transaction of $2,121,792.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,703 shares of company stock valued at $77,172,426. Company insiders own 0.40% of the company’s stock.
ConocoPhillips 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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company’s 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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