Bennicas & Associates Inc. Has $713000 Position in ConocoPhillips (NYSE:COP)

Xavier Trudeau
Août 3, 2017

Highstreet Asset Management Inc. continued to hold its stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,451 shares of the energy producer's stock at the end of the first quarter.

Violich Capital Management Inc decreased Conocophillips (COP) stake by 15.98% reported in 2016Q4 SEC filing.

Other analysts also recently issued reports about the company. First Eagle Investment Management LLC boosted its position in shares of ConocoPhillips by 21.0% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer's stock valued at $108,000 after buying an additional 8 shares during the period. Norges Bank purchased a new stake in ConocoPhillips during the fourth quarter valued at about $496,521,000. The fund owned 30,648 shares of the energy producer's stock after buying an additional 307 shares during the period. State of Alaska Department of Revenue acquired a new position in ConocoPhillips during the first quarter worth about $193,000. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer's stock valued at $116,000 after buying an additional 100 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of ConocoPhillips by 1.0% in the first quarter. First Command Bank now owns 2,313 shares of the energy producer's stock valued at $101,000 after buying an additional 199 shares during the period. Wetherby Asset Management Inc. now owns 22,657 shares of the energy producer's stock valued at $996,000 after buying an additional 253 shares during the last quarter.

ConocoPhillips (NYSE:COP) traded up 1.821% during midday trading on Wednesday, reaching $45.565. The company has market cap of $56.10 billion. ConocoPhillips has a 52-week low of 39.00 and a 52-week high of 53.17. The stock's 50-day moving average price is $44.26 and its 200-day moving average price is $46.70.

The stock of ConocoPhillips (NYSE:COP) earned "Buy" rating by Citigroup on Friday, July 21. The energy producer reported $0.14 earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts' expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.75%. Comparatively, COP posted earnings of $0.45 per share in the same quarter, a year earlier. On average, analysts forecast that ConocoPhillips will post $0.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. ConocoPhillips's payout ratio is -34.98%.

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A number of research analysts have commented on the stock.

Bennicas & Associates Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the second quarter, Holdings Channel reports. Bank of America Corporation downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $68.00 to $67.00 in a report on Thursday, May 11th. Finally, Guggenheim began coverage on ConocoPhillips in a research report on Tuesday, April 18th. The stock of HSBC Holdings plc (ADR) (NYSE:HSBC) has "Neutral" rating given on Tuesday, November 29 by Credit Suisse.

Scotiabank set a $54.00 target price on ConocoPhillips (NYSE:COP) in a report published on Tuesday morning. Out of 2 Wall Street analysts rating Amedisys, 1 give it "Buy", 0 "Sell" rating, while 1 recommend "Hold". The stock has "Hold" rating by Standpoint Research on Wednesday, August 26.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the firm's stock in a transaction dated Friday, May 19th. Plancorp Llc sold 10,489 shares as the company's stock rose 6.51% with the market. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.1 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell.

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