Point View Wealth Management Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 33,072 shares of the energy producer’s stock after selling 408 shares during the period. Point View Wealth Management Inc.’s holdings in ConocoPhillips were worth $2,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. WINTON GROUP Ltd boosted its position in ConocoPhillips by 103.2% in the second quarter. WINTON GROUP Ltd now owns 348,948 shares of the energy producer’s stock valued at $21,286,000 after buying an additional 177,213 shares in the last quarter. NEXT Financial Group Inc boosted its position in ConocoPhillips by 18.1% in the second quarter. NEXT Financial Group Inc now owns 15,677 shares of the energy producer’s stock valued at $956,000 after buying an additional 2,404 shares in the last quarter. CWM Advisors LLC boosted its position in ConocoPhillips by 11.6% in the second quarter. CWM Advisors LLC now owns 30,739 shares of the energy producer’s stock valued at $1,875,000 after buying an additional 3,206 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in ConocoPhillips by 252.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 131,799 shares of the energy producer’s stock valued at $8,796,000 after buying an additional 94,355 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $11,951,000. Institutional investors and hedge funds own 72.18% of the company’s stock.
A number of analysts have weighed in on COP shares. Credit Suisse Group lowered shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research report on Wednesday, May 1st. Morgan Stanley cut their target price on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $74.00 to $80.00 in a research report on Wednesday, June 26th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $77.07.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. ConocoPhillips’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. Sell-side analysts anticipate that ConocoPhillips will post 4.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.305 per share. The ex-dividend date is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.25%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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