1,371,514 Shares in ConocoPhillips $COP Acquired by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. initiated a new position in ConocoPhillips, buying 1,371,514 shares valued at about $128.5 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 82.36% of the company; several large firms, including Vanguard and Capital International Investors, also increased their stakes.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 EPS versus $1.72 expected and declared a quarterly dividend of $0.84 per share, implying a 2.9% annual yield.

Eurizon Capital SGR S.p.A. acquired a new position in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,371,514 shares of the energy producer's stock, valued at approximately $128,470,000. Eurizon Capital SGR S.p.A. owned 0.11% of ConocoPhillips as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the period. Capital International Investors boosted its stake in ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares during the period. Fisher Asset Management LLC boosted its stake in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock worth $1,389,862,000 after purchasing an additional 193,401 shares during the period. Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the period. Finally, Primecap Management Co. CA boosted its stake in ConocoPhillips by 31.3% in the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock worth $979,102,000 after purchasing an additional 2,467,555 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

NYSE COP opened at $114.01 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $138.90 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.29 and a beta of 0.14. The company's fifty day moving average is $123.09 and its two-hundred day moving average is $108.46. ConocoPhillips has a 52-week low of $84.33 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company 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 business's quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Zacks Research lowered shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley increased their target price on shares of ConocoPhillips from $149.00 to $153.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Wolfe Research increased their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Argus increased their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, Sanford C. Bernstein increased their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.60.

Insider Buying and Selling

In other ConocoPhillips news, SVP Heather G. Hrap sold 2,654 shares of the firm's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Company Profile

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.

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