ConocoPhillips $COP Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its position in shares of ConocoPhillips (NYSE:COP) by 45.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,311,982 shares of the energy producer’s stock after purchasing an additional 410,299 shares during the period. AMF Tjanstepension AB’s holdings in ConocoPhillips were worth $117,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sava Infond d.o.o. grew its holdings in shares of ConocoPhillips by 49.4% during the second quarter. Sava Infond d.o.o. now owns 9,945 shares of the energy producer’s stock worth $892,000 after buying an additional 3,290 shares during the last quarter. 111 Capital purchased a new position in shares of ConocoPhillips during the second quarter worth about $2,004,000. QRG Capital Management Inc. grew its holdings in shares of ConocoPhillips by 6.0% during the second quarter. QRG Capital Management Inc. now owns 222,586 shares of the energy producer’s stock worth $19,975,000 after buying an additional 12,609 shares during the last quarter. Fairvoy Private Wealth LLC grew its holdings in shares of ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after buying an additional 117 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in shares of ConocoPhillips by 11.0% during the second quarter. Stock Yards Bank & Trust Co. now owns 38,489 shares of the energy producer’s stock worth $3,454,000 after buying an additional 3,813 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $94.17 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The stock’s 50 day moving average is $94.92 and its two-hundred day moving average is $92.91. The firm has a market capitalization of $117.61 billion, a PE ratio of 12.64, a P/E/G ratio of 2.46 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Saturday, September 27th. Morgan Stanley reissued an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.14.

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.