Brooklyn Investment Group Purchases 2,640 Shares of ConocoPhillips $COP

Key Points

• Brooklyn Investment Group has increased its stake in ConocoPhillips (NYSE:COP) by 40.1% during the first quarter, bringing its total ownership to approximately $969,000.
• ConocoPhillips reported $1.42 EPS for the last quarter, exceeding analysts' estimates by $0.06, and has declared a quarterly dividend of $0.78 per share, which provides an annual yield of 3.3%.
• Institutional investors currently own 82.36% of ConocoPhillips' stock, highlighting strong institutional confidence in the company.

Brooklyn Investment Group boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 40.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,223 shares of the energy producer's stock after purchasing an additional 2,640 shares during the quarter. Brooklyn Investment Group's holdings in ConocoPhillips were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 13.8% in 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. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 31,736,423 shares in the last quarter. Northern Trust Corp raised its stake in shares of ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 purchasing an additional 2,080,625 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of ConocoPhillips by 0.3% during the fourth quarter. Capital World Investors now owns 8,653,331 shares of the energy producer's stock valued at $858,150,000 after purchasing an additional 26,157 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 1.9%

Shares of COP stock traded up $1.8440 during trading hours on Friday, reaching $96.6240. 6,338,392 shares of the stock traded hands, compared to its average volume of 6,789,525. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The business has a fifty day moving average price of $93.80 and a 200 day moving average price of $93.28. 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 firm has a market capitalization of $120.68 billion, a PE ratio of 12.97, a PEG ratio of 2.48 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share 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 company had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the previous year, the business posted $1.98 EPS. The business's revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Wall Street Zen cut shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday. Mizuho dropped their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada dropped their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $120.95.

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.