Fiera Capital Corp lifted its stake in shares of ConocoPhillips (NYSE:COP) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,758 shares of the energy producer’s stock after buying an additional 2,869 shares during the quarter. Fiera Capital Corp’s holdings in ConocoPhillips were worth $6,032,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in COP. BlackRock Inc. boosted its holdings in ConocoPhillips by 4.0% in the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock worth $4,879,663,000 after purchasing an additional 3,103,095 shares during the period. Nwam LLC boosted its holdings in ConocoPhillips by 10.1% in the third quarter. Nwam LLC now owns 8,487 shares of the energy producer’s stock worth $484,000 after purchasing an additional 777 shares during the period. DNB Asset Management AS boosted its holdings in ConocoPhillips by 10.6% in the third quarter. DNB Asset Management AS now owns 167,498 shares of the energy producer’s stock worth $9,544,000 after purchasing an additional 16,051 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in ConocoPhillips in the third quarter worth $265,000. Finally, Strategic Blueprint LLC acquired a new position in ConocoPhillips in the third quarter worth $102,000. 71.50% of the stock is owned by institutional investors and hedge funds.
In other news, President William L. Jr. Bullock sold 25,628 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the completion of the transaction, the president now owns 32,926 shares of the company’s stock, valued at $2,079,935.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.05). ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $7.83 billion. During the same period last year, the firm posted $1.13 EPS. Analysts predict that ConocoPhillips will post 3.58 EPS for the current year.
ConocoPhillips announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the energy producer to purchase up to 15.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, February 13th. ConocoPhillips’s dividend payout ratio (DPR) is 46.80%.
COP has been the subject of a number of research reports. MKM Partners initiated coverage on shares of ConocoPhillips in a report on Thursday, December 5th. They issued a “buy” rating and a $72.00 price objective for the company. Piper Jaffray Companies initiated coverage on shares of ConocoPhillips in a report on Tuesday, November 26th. They issued a “buy” rating and a $74.00 price objective for the company. Scotiabank downgraded shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price objective for the company. in a report on Thursday, January 23rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Tuesday, November 19th. Finally, UBS Group lifted their price objective on shares of ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $74.38.
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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