ConocoPhillips (NYSE:COP) Shares Bought by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,718 shares of the energy producer's stock after purchasing an additional 28,645 shares during the quarter. Cardinal Capital Management Inc.'s holdings in ConocoPhillips were worth $13,413,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $27,000. 10Elms LLP purchased a new stake in ConocoPhillips during the fourth quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the 4th quarter worth $32,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in ConocoPhillips in the fourth quarter worth about $36,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on COP shares. Citigroup dropped their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday. UBS Group decreased their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Royal Bank of Canada dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Finally, Morgan Stanley lifted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $1.36 on Friday, reaching $96.05. The company's stock had a trading volume of 5,868,550 shares, compared to its average volume of 8,381,042. The stock has a market capitalization of $121.42 billion, a P/E ratio of 12.33, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The stock's 50-day moving average is $88.62 and its two-hundred day moving average is $96.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the company posted $2.05 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

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.