Steward Partners Investment Advisory LLC lessened its stake in ConocoPhillips (NYSE:COP) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,588 shares of the energy producer’s stock after selling 1,925 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in ConocoPhillips were worth $1,574,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Diversified Investment Strategies LLC bought a new stake in shares of ConocoPhillips in the first quarter worth $201,000. Cullen Frost Bankers Inc. raised its position in ConocoPhillips by 9.2% during the first quarter. Cullen Frost Bankers Inc. now owns 59,590 shares of the energy producer’s stock worth $3,977,000 after acquiring an additional 5,009 shares in the last quarter. Ballast Inc. bought a new stake in ConocoPhillips during the first quarter worth $201,000. Mogy Joel R Investment Counsel Inc. bought a new stake in ConocoPhillips during the first quarter worth $208,000. Finally, Osborn Williams & Donohoe LLC raised its position in ConocoPhillips by 50.0% during the first quarter. Osborn Williams & Donohoe LLC now owns 10,725 shares of the energy producer’s stock worth $712,000 after acquiring an additional 3,576 shares in the last quarter. Institutional investors own 74.23% of the company’s stock.
Several analysts have issued reports on the stock. ValuEngine lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Credit Suisse Group lowered shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a research report on Wednesday, May 1st. Piper Jaffray Companies raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $75.00 in a research report on Thursday, March 21st. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, March 13th. Finally, Morgan Stanley upped their price target on shares of ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.20.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The company had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 4.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.93%.
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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