Banco Santander S.A. boosted its position in shares of ConocoPhillips (NYSE:COP) by 11,588.2% in the first quarter, Holdings Channel.com reports. The firm owned 416,332 shares of the energy producer’s stock after purchasing an additional 412,770 shares during the period. Banco Santander S.A.’s holdings in ConocoPhillips were worth $12,823,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC boosted its position in ConocoPhillips by 5.0% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,710 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 175 shares during the last quarter. Stevens Capital Management LP boosted its position in ConocoPhillips by 1.3% during the fourth quarter. Stevens Capital Management LP now owns 13,311 shares of the energy producer’s stock valued at $866,000 after purchasing an additional 176 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its position in ConocoPhillips by 2.6% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 7,078 shares of the energy producer’s stock valued at $460,000 after purchasing an additional 178 shares during the last quarter. BerganKDV Wealth Management LLC boosted its position in ConocoPhillips by 13.8% during the fourth quarter. BerganKDV Wealth Management LLC now owns 1,473 shares of the energy producer’s stock valued at $96,000 after purchasing an additional 179 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its position in shares of ConocoPhillips by 1.7% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 10,654 shares of the energy producer’s stock worth $693,000 after buying an additional 183 shares during the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on COP shares. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $67.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Goldman Sachs Group raised ConocoPhillips from a “buy” rating to a “conviction-buy” rating in a research report on Monday, May 4th. Cfra reduced their price target on ConocoPhillips from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of ConocoPhillips in a research report on Thursday, April 30th. Finally, UBS Group reduced their price target on ConocoPhillips from $85.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $57.19.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.22. ConocoPhillips had a return on equity of 10.02% and a net margin of 11.51%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $1.00 EPS. On average, sell-side analysts expect that ConocoPhillips will post -1.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, May 8th. ConocoPhillips’s payout ratio is currently 46.80%.
ConocoPhillips declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 4th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the energy producer to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other ConocoPhillips news, Director David Thomas Seaton bought 2,400 shares of ConocoPhillips stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $41.03 per share, with a total value of $98,472.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at $102,575. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays 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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