Crossmark Global Holdings Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,606 shares of the energy producer’s stock after selling 5,297 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ConocoPhillips were worth $4,722,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Financial Inc. purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $36,000. AllSquare Wealth Management LLC lifted its holdings in ConocoPhillips by 32.7% during the third quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 183 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $45,000. Independence Bank of Kentucky lifted its holdings in ConocoPhillips by 36.9% during the third quarter. Independence Bank of Kentucky now owns 808 shares of the energy producer’s stock valued at $46,000 after purchasing an additional 218 shares in the last quarter. Finally, Vestor Capital LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $49,000. Institutional investors own 71.50% of the company’s stock.
Several equities analysts have weighed in on COP shares. Scotiabank downgraded shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price target on the stock. in a report on Thursday, January 23rd. Susquehanna Bancshares started coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They set a “positive” rating and a $80.00 price target on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, January 14th. Wells Fargo & Co reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Tuesday, November 19th. Finally, MKM Partners started coverage on shares of ConocoPhillips in a report on Thursday, December 5th. They issued a “buy” rating and a $72.00 target price on the stock. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus price target of $74.38.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, February 4th. The energy producer reported $0.76 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.05). ConocoPhillips had a return on equity of 11.84% and a net margin of 19.60%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $7.83 billion. During the same period last year, the firm posted $1.13 EPS. On average, research analysts predict that ConocoPhillips will post 3.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 14th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, February 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.
ConocoPhillips announced that its board has initiated a share buyback plan on Tuesday, February 4th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the energy producer to reacquire up to 15.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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 value of $1,618,920.76. Following the transaction, the president now owns 32,926 shares of the company’s stock, valued at $2,079,935.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.
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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