Crossmark Global Holdings Inc. cut its stake in ConocoPhillips (NYSE:COP) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,606 shares of the energy producer’s stock after selling 5,297 shares during the period. Crossmark Global Holdings Inc.’s holdings in ConocoPhillips were worth $4,722,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in ConocoPhillips by 4.0% during the 2nd quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock worth $4,879,663,000 after acquiring an additional 3,103,095 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in ConocoPhillips during the 3rd quarter worth about $265,000. Mission Wealth Management LP grew its holdings in ConocoPhillips by 3.9% during the 3rd quarter. Mission Wealth Management LP now owns 11,639 shares of the energy producer’s stock worth $663,000 after acquiring an additional 440 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in ConocoPhillips by 2.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 10,845 shares of the energy producer’s stock worth $618,000 after acquiring an additional 237 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in ConocoPhillips by 6.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 490,999 shares of the energy producer’s stock worth $27,977,000 after acquiring an additional 29,374 shares in the last quarter. Hedge funds and other institutional investors own 71.50% of the company’s stock.
Several brokerages have issued reports on COP. Robert W. Baird began coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They set an “outperform” rating and a $72.00 target price on the stock. Susquehanna Bancshares began coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They set a “positive” rating and a $80.00 target price on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, November 19th. UBS Group increased their target price on shares of ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.38.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.05). The firm had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $7.83 billion. ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 3.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 13th. ConocoPhillips’s payout ratio is 46.80%.
ConocoPhillips declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 4th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the energy producer to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other ConocoPhillips news, President William L. Jr. Bullock sold 25,628 shares of the stock in a transaction dated 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 sale, the president now directly 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 SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.
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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