Today: Today, 1ST Source Bank Increases Position in ConocoPhillips (COP)

Today, 1ST Source Bank Increases Position in ConocoPhillips (COP)

1ST Source Bank boosted its position in ConocoPhillips (NYSE:COP) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,578 shares of the company’s stock after buying an additional 92 shares during the period. 1ST Source Bank’s holdings in ConocoPhillips were worth $897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Integrated Investment Consultants LLC boosted its position in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the last quarter. Signaturefd LLC boosted its position in ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock worth $115,000 after buying an additional 383 shares during the last quarter. Quadrant Capital Group LLC boosted its position in ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in ConocoPhillips during the second quarter worth approximately $122,000. Finally, AIMZ Investment Advisors LLC purchased a new position in ConocoPhillips during the first quarter worth approximately $205,000. 63.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of ConocoPhillips (NYSE:COP) traded down 1.6786% during midday trading on Tuesday, reaching $40.4101. 3,772,416 shares of the company’s stock were exchanged. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The firm has a 50-day moving average of $41.77 and a 200-day moving average of $42.85. The company’s market capitalization is $50.05 billion.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Equities analysts expect that ConocoPhillips will post ($2.47) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.00 annualized dividend and a yield of 2.43%. ConocoPhillips’s dividend payout ratio is currently -17.57%.

A number of research firms have recently commented on COP. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research report on Sunday, July 10th. Vetr upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price target for the company in a research note on Monday, September 12th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, July 13th. Simmons restated a “neutral” rating on shares of ConocoPhillips in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 price target for the company in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.69.

In related news, VP Ellen Desanctis acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was purchased at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the purchase, the vice president now directly owns 22,010 shares of the company’s stock, valued at approximately $891,405. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti acquired 6,500 shares of the company’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the purchase, the director now directly owns 19,000 shares of the company’s stock, valued at $754,680. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

About ConocoPhillips

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

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