Adams Natural Resources Fund Inc. Has $33.64 Million Holdings in ConocoPhillips $COP

Key Points

• Adams Natural Resources Fund Inc. reduced its stake in ConocoPhillips by 3.6%, holding 374,903 shares valued at approximately $33.64 million, making it the firm’s third-largest investment.
• Several major institutional investors have increased their positions in ConocoPhillips, with Charles Schwab boosting its holdings by 379.7% to over 40 million shares.
• Analysts have a consensus price target of $115.63 for ConocoPhillips, with several firms adjusting their ratings and price objectives positively in recent reports.

Adams Natural Resources Fund Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,903 shares of the energy producer's stock after selling 14,200 shares during the quarter. ConocoPhillips accounts for 5.3% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 3rd largest holding. Adams Natural Resources Fund Inc.'s holdings in ConocoPhillips were worth $33,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% in the first 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 last quarter. Nuveen LLC purchased a new position in ConocoPhillips in the first quarter worth $658,981,000. AQR Capital Management LLC boosted its position in ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock worth $484,539,000 after purchasing an additional 3,058,505 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer's stock worth $550,334,000 after purchasing an additional 1,834,118 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Capital One Financial boosted their price objective on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price objective on ConocoPhillips from $114.00 to $115.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Mizuho dropped their price target on ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Scotiabank upped their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Jefferies Financial Group dropped their price target on ConocoPhillips from $129.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $115.63.

ConocoPhillips Stock Performance

Shares of COP opened at $86.39 on Wednesday. The stock's 50-day simple moving average is $93.75 and its 200 day simple moving average is $91.88. The stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 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.

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