AlphaCore Capital LLC Buys New Shares in ConocoPhillips (NYSE:COP)

AlphaCore Capital LLC acquired a new position in ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,571 shares of the energy producer's stock, valued at approximately $552,000.

Several other large investors also recently made changes to their positions in COP. Vanguard Group Inc. grew its position in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% during 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 purchasing an additional 5,549,078 shares in the last quarter. Capital International Investors grew its holdings in ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.98 during midday trading on Wednesday, hitting $84.57. 6,785,093 shares of the company's stock were exchanged, compared to its average volume of 7,394,612. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50 day moving average price is $91.49 and its 200-day moving average price is $97.89. The firm has a market cap of $106.91 billion, a P/E ratio of 10.86, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $119.23.

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

ConocoPhillips Dividend Announcement

The company also recently announced 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 yield of 3.69%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COP. UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Bank of America lowered their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Scotiabank decreased their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada decreased their price target on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Susquehanna decreased their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.89.

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.