Vaughan David Investments LLC IL cut its stake in shares of ConocoPhillips (NYSE:COP) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 418,359 shares of the energy producer’s stock after selling 1,642 shares during the period. ConocoPhillips makes up approximately 1.4% of Vaughan David Investments LLC IL’s holdings, making the stock its 17th largest holding. Vaughan David Investments LLC IL’s holdings in ConocoPhillips were worth $32,381,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. IMA Wealth Inc. acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $100,000. Palo Capital Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $131,000. Adviser Investments LLC raised its position in shares of ConocoPhillips by 139.4% in the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after purchasing an additional 1,139 shares in the last quarter. Lucia Wealth Services LLC raised its position in shares of ConocoPhillips by 541.3% in the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 1,900 shares in the last quarter. Finally, NuWave Investment Management LLC raised its position in shares of ConocoPhillips by 8,000.0% in the 3rd quarter. NuWave Investment Management LLC now owns 2,025 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 2,000 shares in the last quarter. 71.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $66.00 target price on shares of ConocoPhillips in a research report on Monday, November 19th. BMO Capital Markets set a $78.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Monday, November 12th. Morgan Stanley cut their target price on ConocoPhillips from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Finally, Goldman Sachs Group lowered ConocoPhillips from a “buy” rating to a “neutral” rating in a research report on Monday, October 1st. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $75.37.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.48 billion. On average, equities analysts forecast that ConocoPhillips will post 4.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, October 12th. ConocoPhillips’s payout ratio is 203.33%.
In other news, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of the sale, the vice president now directly owns 29,064 shares in the company, valued at approximately $2,067,903.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by insiders.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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