Trade Report: Today: Peak Asset Management LLC Reached $4,195,000 position of ConocoPhillips (COP)

Today: Peak Asset Management LLC Reached $4,195,000 position  of ConocoPhillips (COP)

Peak Asset Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 12.4% during the third quarter, Holdings Channel reports. The fund owned 96,495 shares of the company’s stock after buying an additional 10,617 shares during the period. ConocoPhillips accounts for approximately 1.8% of Peak Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Peak Asset Management LLC’s holdings in ConocoPhillips were worth $4,195,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COP. Vanguard Group Inc. raised its position in ConocoPhillips by 2.4% in the second quarter. Vanguard Group Inc. now owns 81,195,111 shares of the company’s stock valued at $3,540,106,000 after buying an additional 1,937,880 shares during the last quarter. FMR LLC increased its stake in ConocoPhillips by 61.3% in the second quarter. FMR LLC now owns 41,549,843 shares of the company’s stock valued at $1,811,573,000 after buying an additional 15,793,307 shares during the period. BlackRock Fund Advisors increased its stake in ConocoPhillips by 2.1% in the second quarter. BlackRock Fund Advisors now owns 19,228,815 shares of the company’s stock valued at $838,376,000 after buying an additional 392,818 shares during the period. Bank of New York Mellon Corp increased its stake in ConocoPhillips by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 14,091,927 shares of the company’s stock valued at $614,409,000 after buying an additional 320,848 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in ConocoPhillips by 16.6% in the second quarter. Ameriprise Financial Inc. now owns 12,097,088 shares of the company’s stock valued at $527,432,000 after buying an additional 1,718,788 shares during the period. Institutional investors own 63.51% of the company’s stock.

Shares of ConocoPhillips (NYSE:COP) traded down 0.55% on Monday, hitting $45.50. 9,428,178 shares of the stock traded hands. The firm’s market cap is $56.38 billion. The firm has a 50 day moving average price of $43.61 and a 200 day moving average price of $42.80. ConocoPhillips has a 52-week low of $31.05 and a 52-week high of $54.75.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.66) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.03. ConocoPhillips had a negative return on equity of 10.68% and a negative net margin of 29.45%. During the same period in the previous year, the firm posted ($0.38) EPS. On average, equities analysts forecast that ConocoPhillips will post ($2.83) EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, October 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. ConocoPhillips’s dividend payout ratio is presently -17.67%.

Several research firms have commented on COP. Clsa Americas downgraded shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a report on Monday, November 14th. CLSA downgraded shares of ConocoPhillips from an “outperform” rating to an “underperform” rating in a report on Tuesday, November 15th. Goldman Sachs Group Inc. raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $54.00 in a report on Monday. Vetr downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 price objective on the stock. in a report on Thursday, September 8th. Finally, Royal Bank Of Canada upped their price objective on shares of ConocoPhillips from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price 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.

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