Hummer Financial Advisory Services Inc bought a new stake in ConocoPhillips (NYSE:COP – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 2,952 shares of the energy producer’s stock, valued at approximately $293,000.
Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC increased its stake in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. raised its position in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Institutional investors own 82.36% of the company’s stock.
Insider Transactions at ConocoPhillips
In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.
ConocoPhillips Trading Up 2.3 %
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.
ConocoPhillips Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Wells Fargo & Company lifted their target price on ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI reissued an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $136.76.
View Our Latest Stock Report on ConocoPhillips
ConocoPhillips Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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