49 Wealth Management LLC Acquires 3,353 Shares of ConocoPhillips (NYSE:COP)

49 Wealth Management LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 170.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,325 shares of the energy producer's stock after purchasing an additional 3,353 shares during the period. 49 Wealth Management LLC's holdings in ConocoPhillips were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Leavell Investment Management Inc. boosted its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after acquiring an additional 7,174 shares during the period. Heck Capital Advisors LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,767,000. Asset Management One Co. Ltd. boosted its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after acquiring an additional 54,196 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock worth $116,118,000 after acquiring an additional 80,199 shares during the period. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.3%

COP traded up $0.25 during trading on Tuesday, reaching $85.44. 2,494,488 shares of the company's stock were exchanged, compared to its average volume of 7,378,909. ConocoPhillips has a one year low of $79.88 and a one year high of $119.23. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $108.01 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The firm has a fifty day moving average price of $91.82 and a two-hundred day moving average price of $97.98.

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

ConocoPhillips Dividend Announcement

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 $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada reduced their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company reduced their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Morgan Stanley boosted their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Bank of America cut their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday. Finally, Raymond James reissued an "outperform" rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.89.

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.