James Investment Research Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 319,545 shares of the energy producer’s stock after acquiring an additional 25,087 shares during the period. ConocoPhillips accounts for 0.9% of James Investment Research Inc.’s holdings, making the stock its 23rd biggest position. James Investment Research Inc.’s holdings in ConocoPhillips were worth $22,246,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of COP. Augustine Asset Management Inc. raised its holdings in shares of ConocoPhillips by 1.9% in the second quarter. Augustine Asset Management Inc. now owns 38,754 shares of the energy producer’s stock worth $2,698,000 after buying an additional 726 shares during the last quarter. Shufro Rose & Co. LLC raised its holdings in shares of ConocoPhillips by 8.1% in the first quarter. Shufro Rose & Co. LLC now owns 10,650 shares of the energy producer’s stock worth $631,000 after buying an additional 800 shares during the last quarter. SVA Plumb Wealth Management LLC raised its holdings in shares of ConocoPhillips by 14.6% in the first quarter. SVA Plumb Wealth Management LLC now owns 6,391 shares of the energy producer’s stock worth $320,000 after buying an additional 816 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of ConocoPhillips by 29.0% in the first quarter. Jacobi Capital Management LLC now owns 3,635 shares of the energy producer’s stock worth $211,000 after buying an additional 817 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in shares of ConocoPhillips by 9.8% in the first quarter. HighPoint Advisor Group LLC now owns 9,228 shares of the energy producer’s stock worth $641,000 after buying an additional 824 shares during the last quarter. 71.00% of the stock is owned by institutional investors.
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A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Thursday, April 19th. Jefferies Financial Group cut shares of ConocoPhillips from a “buy” rating to a “hold” rating and raised their price target for the stock from $66.42 to $68.00 in a report on Thursday, April 19th. Argus set a $76.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Friday, May 4th. Barclays raised their price target on shares of ConocoPhillips from $71.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 27th. Finally, ValuEngine raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, April 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $68.05.
Shares of ConocoPhillips stock opened at $70.01 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.86 and a quick ratio of 1.71. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $72.57. The firm has a market cap of $81.54 billion, a P/E ratio of 116.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.22.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The firm had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.68 billion. During the same quarter last year, the company posted ($0.02) earnings per share. equities analysts anticipate that ConocoPhillips will post 4.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, July 23rd will be issued a dividend of $0.285 per share. The ex-dividend date is Friday, July 20th. This represents a $1.14 annualized dividend and a dividend yield of 1.63%. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.
ConocoPhillips announced that its board has approved a stock buyback plan on Thursday, July 12th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the energy producer to buy up to 10.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, SVP Janet Langford Kelly sold 59,389 shares of the firm’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $65.95, for a total transaction of $3,916,704.55. Following the sale, the senior vice president now owns 100,600 shares in the company, valued at $6,634,570. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Glenda Mae Schwarz sold 6,763 shares of the firm’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $65.04, for a total transaction of $439,865.52. Following the sale, the vice president now owns 10,182 shares in the company, valued at approximately $662,237.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 284,052 shares of company stock valued at $19,491,534. 0.88% of the stock is currently owned by corporate 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. 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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