Berkeley Capital Partners LLC Has $2.21 Million Holdings in ConocoPhillips $COP

Key Points

• Berkeley Capital Partners LLC increased its holdings in ConocoPhillips by 218.2%, owning 24,631 shares valued at approximately $2.21 million.
• Hedge funds collectively own 82.36% of ConocoPhillips' stock, with significant increases in positions from firms like Charles Schwab and Goldman Sachs in the first quarter.
• Analysts show mixed ratings on ConocoPhillips, with price targets ranging from $100 to $115, reflecting varying outlooks on the company’s future performance.

Berkeley Capital Partners LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 218.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 24,631 shares of the energy producer's stock after acquiring an additional 16,890 shares during the period. Berkeley Capital Partners LLC's holdings in ConocoPhillips were worth $2,210,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after buying an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after buying an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock valued at $861,490,000 after buying an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $658,981,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COP shares. Roth Capital cut their price objective on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, October 15th. 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. Capital One Financial boosted their price objective on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $115.63.

ConocoPhillips Stock Performance

Shares of COP opened at $87.01 on Tuesday. The firm has a market cap of $108.67 billion, a PE ratio of 11.68, a PEG ratio of 2.29 and a beta of 0.62. The stock's fifty day moving average price is $93.91 and its two-hundred day moving average price is $91.92. 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 1 year low of $79.88 and a 1 year high of $115.38.

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

ConocoPhillips Dividend Announcement

The company 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. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips's payout ratio is presently 41.88%.

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.

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