ConocoPhillips (NYSE:COP) Shares Bought by Merewether Investment Management LP

Merewether Investment Management LP boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,404,145 shares of the energy producer's stock after acquiring an additional 217,645 shares during the period. ConocoPhillips comprises 5.6% of Merewether Investment Management LP's portfolio, making the stock its 4th largest holding. Merewether Investment Management LP owned approximately 0.12% of ConocoPhillips worth $139,249,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Albion Financial Group UT grew its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter worth $32,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP opened at $92.18 on Tuesday. The firm's 50 day moving average price is $93.14 and its 200 day moving average price is $99.28. The firm has a market cap of $116.53 billion, a PE ratio of 11.83, a PEG ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.56.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the company posted $2.05 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.38%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Analyst Ratings Changes

Several research firms recently issued reports on COP. Susquehanna cut their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Scotiabank dropped their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Morgan Stanley increased their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $123.74.

ConocoPhillips Company 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.

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