ConocoPhillips $COP Shares Purchased by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC increased its stake in ConocoPhillips by 13.0%, now holding 36,169 shares worth approximately $3.25 million.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding expectations and showing a 4.3% increase in revenue year-over-year.
• The company's quarterly dividend was set at $0.78, reflecting a yield of 3.5% with a payout ratio of 41.88%.

Bleakley Financial Group LLC boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 13.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,169 shares of the energy producer's stock after buying an additional 4,155 shares during the quarter. Bleakley Financial Group LLC's holdings in ConocoPhillips were worth $3,246,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $658,981,000. AQR Capital Management LLC raised its stake in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock valued at $484,539,000 after purchasing an additional 3,058,505 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer's stock worth $550,334,000 after buying an additional 1,834,118 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Up 3.1%

COP stock opened at $90.08 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market cap of $112.51 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 2.33 and a beta of 0.62. The business has a fifty day simple moving average of $93.47 and a 200-day simple moving average of $91.88. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.98 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho decreased their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of ConocoPhillips in a research note on Wednesday, October 8th. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a report on Saturday, October 18th. Evercore ISI dropped their target price on ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating for the company in a research note on Monday, October 6th. Finally, UBS Group decreased their price target on ConocoPhillips from $124.00 to $122.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $115.63.

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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