Madison Asset Management LLC increased its holdings in ConocoPhillips (NYSE:COP – Free Report) by 79.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,608 shares of the energy producer’s stock after purchasing an additional 93,408 shares during the period. Madison Asset Management LLC’s holdings in ConocoPhillips were worth $27,800,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its holdings in ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares during the period. D.A. Davidson & CO. grew its stake in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the period. Czech National Bank increased its position in shares of ConocoPhillips by 2.7% in the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after acquiring an additional 8,635 shares in the last quarter. BXM Wealth LLC increased its position in shares of ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after acquiring an additional 34,961 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of ConocoPhillips by 17.6% in the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after acquiring an additional 61,361 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on COP shares. Morgan Stanley decreased their price target on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Freedom Capital cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Jefferies Financial Group upped their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Raymond James Financial lowered their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.04.
ConocoPhillips Price Performance
COP opened at $115.67 on Tuesday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The firm has a market cap of $140.92 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.39 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $113.48 and a 200 day simple moving average of $113.67.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. Equities research analysts expect that ConocoPhillips will post 9.2 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.
About ConocoPhillips
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.
Read More
- Five stocks we like better than ConocoPhillips
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
- Why Gold Miners Could Be the Market’s Biggest Comeback Story
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.
