Swiss National Bank Buys 204,000 Shares of ConocoPhillips $COP

Swiss National Bank raised its stake in ConocoPhillips (NYSE:COPFree Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,626,470 shares of the energy producer’s stock after buying an additional 204,000 shares during the period. Swiss National Bank owned about 0.30% of ConocoPhillips worth $478,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the 4th quarter worth $25,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips in the fourth quarter valued at $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at about $28,000. Frazier Financial Advisors LLC raised its position in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Finally, BNP Paribas bought a new stake in ConocoPhillips during the second quarter worth about $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.6%

COP opened at $114.70 on Friday. The company has a market cap of $139.74 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.39 and a beta of 0.12. The business’s 50-day moving average price is $113.48 and its 200-day moving average price is $113.37. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 EPS. On average, equities analysts expect that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s payout ratio is presently 57.05%.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Sanford C. Bernstein increased their price objective on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. The Goldman Sachs Group cut their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Susquehanna lifted their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, UBS Group lowered their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

Get Our Latest Analysis on COP

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

  • Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
  • Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
  • Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
  • Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

About ConocoPhillips

(Free Report)

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

Recommended Stories

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPFree Report).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.