Crestline Management LP Increases Position in ConocoPhillips (NYSE:COP)

Crestline Management LP raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,912 shares of the energy producer's stock after buying an additional 5,111 shares during the period. Crestline Management LP's holdings in ConocoPhillips were worth $1,677,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COP. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $32,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $1.49 during midday trading on Wednesday, hitting $92.68. The company had a trading volume of 3,144,410 shares, compared to its average volume of 8,509,516. The business has a 50-day simple moving average of $93.25 and a two-hundred day simple moving average of $99.24. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $117.16 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 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 analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the previous year, the firm earned $2.05 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $138.00 to $107.00 in a research note on Tuesday, April 29th. Susquehanna reduced their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday. Royal Bank of Canada cut their price target on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler reduced their price objective on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.

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.