Great Valley Advisor Group Inc. raised its stake in ConocoPhillips (NYSE:COP – Get Rating) by 76.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,710 shares of the energy producer’s stock after purchasing an additional 12,028 shares during the period. Great Valley Advisor Group Inc.’s holdings in ConocoPhillips were worth $2,328,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of COP. BlackRock Inc. increased its stake in ConocoPhillips by 3.4% in the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $8,017,310,000 after purchasing an additional 3,652,817 shares in the last quarter. Nuveen Asset Management LLC increased its stake in ConocoPhillips by 23.1% in the fourth quarter. Nuveen Asset Management LLC now owns 10,653,790 shares of the energy producer’s stock valued at $768,990,000 after purchasing an additional 2,001,581 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in ConocoPhillips by 2,896.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,331,669 shares of the energy producer’s stock valued at $96,120,000 after purchasing an additional 1,287,232 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $91,672,000. Finally, Ruffer LLP grew its holdings in shares of ConocoPhillips by 970.3% during the fourth quarter. Ruffer LLP now owns 1,171,452 shares of the energy producer’s stock valued at $86,699,000 after buying an additional 1,062,002 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.
COP opened at $91.46 on Thursday. The company’s 50-day moving average price is $103.99 and its two-hundred day moving average price is $94.83. ConocoPhillips has a twelve month low of $51.41 and a twelve month high of $124.08. The company has a quick ratio of 1.41, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. The stock has a market cap of $118.30 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.32 and a beta of 1.34.
ConocoPhillips (NYSE:COP – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $18.36 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 82.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 15 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, June 27th. This represents a dividend yield of 3.21%. This is a positive change from ConocoPhillips’ previous dividend of $0.30. ConocoPhillips’s payout ratio is 18.97%.
A number of research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of ConocoPhillips from $150.00 to $157.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. KeyCorp lifted their price objective on shares of ConocoPhillips from $112.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $114.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Susquehanna Bancshares boosted their price target on shares of ConocoPhillips from $108.00 to $129.00 in a report on Monday, April 25th. Finally, Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.76.
In related news, Director Timothy A. Leach sold 40,603 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the sale, the director now owns 666,002 shares of the company’s stock, valued at approximately $68,151,984.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 19,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $110.51, for a total transaction of $2,121,792.00. The disclosure for this sale can be found here. In the last three months, insiders sold 644,703 shares of company stock worth $77,172,426. Insiders own 0.40% of the company’s stock.
ConocoPhillips Profile: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company’s 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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