Goelzer Investment Management Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 119.8% during the third quarter, Holdings Channel reports. The institutional investor owned 71,584 shares of the company’s stock after buying an additional 39,021 shares during the period. Goelzer Investment Management Inc.’s holdings in ConocoPhillips were worth $3,112,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $3,488,000. A.R.T. Advisors LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $1,084,000. Integrated Investment Consultants LLC increased its stake in shares of 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 in the last quarter. Stock Yards Bank & Trust Co. increased its stake in shares of ConocoPhillips by 150.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,061 shares of the company’s stock worth $1,790,000 after buying an additional 24,678 shares in the last quarter. Finally, Baxter Bros Inc. purchased a new stake in shares of ConocoPhillips during the second quarter worth approximately $1,171,000. 63.51% of the stock is currently owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded down 0.55% during trading on Monday, hitting $45.50. 9,429,488 shares of the stock were exchanged. The stock has a 50-day moving average of $43.65 and a 200 day moving average of $42.81. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $54.75. The stock’s market cap is $56.38 billion.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 27th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative net margin of 29.45% and a negative return on equity of 10.68%. During the same quarter last year, the business earned ($0.38) earnings per share. Equities analysts predict that ConocoPhillips will post ($2.83) earnings per share for the current fiscal year.
The firm also recently announced 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 of this dividend is Thursday, October 13th. This represents a $1.00 annualized dividend and a yield of 2.16%. ConocoPhillips’s payout ratio is -17.67%.
A number of equities research analysts have commented on COP shares. Deutsche Bank AG reissued a “buy” rating on shares of ConocoPhillips in a research report on Sunday, July 31st. Simmons reissued a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. Credit Suisse Group AG restated a “neutral” rating on shares of ConocoPhillips in a report on Tuesday, September 6th. Jefferies Group upgraded shares of ConocoPhillips from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $40.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Vetr cut shares of ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 target price for the company. in a report on Thursday, September 8th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $51.67.
ConocoPhillips Company Profile
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.