Cookson Peirce & Co. Inc. Makes New Investment in ConocoPhillips $COP

Key Points

• Cookson Peirce & Co. Inc. has acquired a new position in ConocoPhillips, purchasing 6,783 shares valued at approximately $712,000 in the first quarter.
• Institutional ownership in ConocoPhillips has increased significantly, with key investors like Price T Rowe Associates boosting their stake by 13.8% and others showing large increases.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, reflecting an annualized dividend yield of 3.3% and a payout ratio of 41.88%.

Cookson Peirce & Co. Inc. bought a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,783 shares of the energy producer's stock, valued at approximately $712,000.

A number of other large investors have also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $658,981,000. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% during the fourth 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 buying an additional 5,549,078 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after buying an additional 2,971,661 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of ConocoPhillips by 10,440.1% during the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock worth $311,299,000 after acquiring an additional 2,936,066 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on COP. Morgan Stanley reaffirmed an "overweight" rating and issued a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Roth Capital reissued a "buy" rating and set a $108.00 target price on shares of ConocoPhillips in a research note on Thursday, August 7th. Melius began coverage on shares of ConocoPhillips in a research note on Wednesday. They issued a "hold" rating and a $117.00 price target on the stock. Melius Research assumed coverage on shares of ConocoPhillips in a report on Wednesday. They set a "hold" rating and a $117.00 price objective for the company. Finally, Susquehanna lowered their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.95.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Up 1.2%

NYSE COP traded up $1.0810 on Wednesday, hitting $94.8410. The stock had a trading volume of 6,133,205 shares, compared to its average volume of 6,814,230. The business's fifty day moving average price is $93.81 and its 200 day moving average price is $93.33. The stock has a market cap of $118.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.46 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's payout ratio is presently 41.88%.

About ConocoPhillips

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.