ConocoPhillips (NYSE:COP) shares acquired by Coastal Investment Advisors Inc.
Coastal Investment Advisors Inc. increased its position in shares of ConocoPhillips (NYSE: COP – Get Rating) by 9.2% in Q1, reports HoldingsChannel.com. The company held 3,590 shares of the energy producer after acquiring 301 additional shares during the period. Coastal Investment Advisors Inc.’s holdings in ConocoPhillips were worth $359,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockland Trust Co. increased its stake in ConocoPhillips shares by 3.8% during the 4th quarter. Rockland Trust Co. now owns 10,933 shares of the energy producer worth $789,000 after buying 399 additional shares in the last quarter. Old North State Trust LLC increased its holdings of ConocoPhillips shares by 25.0% in the fourth quarter. Old North State Trust LLC now owns 1,180 shares of the energy producer valued at $85,000 after buying 236 additional shares last quarter. California State Teachers Retirement System increased its position in ConocoPhillips shares by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 2,327,977 shares of the energy producer valued at $168,033,000 after buying 59,037 additional shares in the last quarter. UBS Asset Management Americas Inc. increased its equity stake in ConocoPhillips by 9.2% during the third quarter. UBS Asset Management Americas Inc. now owns 6,262,480 shares of the energy producer worth $424,408,000 after buying an additional 529,105 shares last quarter. Finally, Robeco Institutional Asset Management BV increased its position in ConocoPhillips shares by 14.1% during the 4th quarter. Robeco Institutional Asset Management BV now owns 307,184 shares of the energy producer worth $22,176,000 after buying an additional 37,907 shares in the last quarter. Institutional investors hold 78.80% of the company’s shares.
Separately, director Timothy A. Leach sold 40,603 shares of the company in a transaction dated Thursday, May 19. The stock was sold at an average price of $102.33, for a total value of $4,154,904.99. Following the completion of the sale, the director now directly owns 666,002 shares of the company, valued at $68,151,984.66. The sale was disclosed in a filing with the SEC, accessible via this link. Additionally, CEO Ryan Michael Lance sold 584,900 shares of the company in a trade that took place on Tuesday, June 7. The shares were sold at an average price of $121.21, for a total value of $70,895,729.00. Following the sale, the CEO now directly owns 44,522 shares of the company, valued at $5,396,511.62. The disclosure of this sale can be found here. Insiders have sold 644,703 shares of the company valued at $77,172,426 in the past three months. 0.08% of the shares are currently held by insiders of the company.
A number of stock analysts have weighed in on COP shares recently. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a Saturday, May 14 report. Mizuho raised his price target on ConocoPhillips shares from $150.00 to $157.00 and gave the company a “buy” rating in a Tuesday, May 31 research note. Scotiabank upgraded ConocoPhillips from a “sector performance” rating to an “outperform” rating and raised its price target for the stock from $110.00 to $115.00 in a research note from the Monday April 18. Wells Fargo & Company raised its price target on ConocoPhillips shares from $114.00 to $130.00 and gave the stock an “overweight” rating in a Friday, March 11 research note. Finally, Societe Generale raised its price target on ConocoPhillips to $127.00 in a Thursday, June 9 report. Three analysts gave the stock a hold rating, seventeen issued a buy rating and one issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $110.91.
ConocoPhillips stock opened at $90.91 on Friday. The company has a market capitalization of $117.59 billion, a PE ratio of 9.37, a growth price-earnings ratio of 0.31 and a beta of 1.34. ConocoPhillips has a one-year low of $51.41 and a one-year high of $124.08. The stock’s 50-day moving average price is $104.57 and its 200-day moving average price is $94.42. The company has a debt ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51.
ConocoPhillips (NYSE:COP – Get Rating) last released its results on Thursday, May 5. The energy producer reported EPS of $3.27 for the quarter, beating analyst consensus estimates of $3.24 by $0.03. The company posted revenue of $19.29 billion for the quarter, versus $18.36 billion expected by analysts. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company’s revenue for the quarter increased by 82.7% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.69. On average, analysts expect ConocoPhillips to post 15 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Friday, July 15. Shareholders of record on Tuesday, June 28 will receive a dividend of $0.70 per share. This represents a dividend yield of 3.21%. This is a positive change from ConocoPhillips’ previous dividend of $0.30. The ex-dividend date is Monday, June 27. ConocoPhillips’ payout ratio is currently 18.97%.
ConocoPhillips Company Profile (Get an assessment)
ConocoPhillips explores, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids worldwide. It is mainly engaged in conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands and other production operations. The Company’s portfolio includes unconventional land 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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