EP Wealth Advisors LLC Raises Holdings in ConocoPhillips (NYSE:COP)

EP Wealth Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,697 shares of the energy producer's stock after purchasing an additional 7,007 shares during the quarter. EP Wealth Advisors LLC's holdings in ConocoPhillips were worth $4,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Collar Capital Management LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $526,000. CoreCap Advisors LLC grew its holdings in ConocoPhillips by 19.8% in the fourth quarter. CoreCap Advisors LLC now owns 17,128 shares of the energy producer's stock valued at $1,699,000 after purchasing an additional 2,834 shares during the period. CoreCommodity Management LLC grew its holdings in ConocoPhillips by 8.6% in the fourth quarter. CoreCommodity Management LLC now owns 47,629 shares of the energy producer's stock valued at $4,723,000 after purchasing an additional 3,783 shares during the period. Corigliano Investment Advisers LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $12,841,000. Finally, Cornerstone Select Advisors LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.3%

Shares of ConocoPhillips stock traded down $0.24 during trading hours on Friday, hitting $88.58. The company's stock had a trading volume of 7,568,420 shares, compared to its average volume of 7,285,735. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.56. The firm has a fifty day moving average of $93.08 and a 200-day moving average of $99.37. The stock has a market cap of $111.98 billion, a price-to-earnings ratio of 11.37, a P/E/G 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 (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the company posted $2.05 EPS. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.52%. ConocoPhillips's dividend payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Bank of America lowered 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 report on Tuesday, April 29th. Scotiabank decreased their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna set a $136.00 price objective on ConocoPhillips in a report on Tuesday, April 22nd. Three investment 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 company's stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $124.89.

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.