Cardinal Capital Management raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,367 shares of the energy producer's stock after acquiring an additional 5,214 shares during the period. ConocoPhillips makes up 1.4% of Cardinal Capital Management's holdings, making the stock its 21st largest position. Cardinal Capital Management's holdings in ConocoPhillips were worth $9,070,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $27,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $36,000. Institutional investors own 82.36% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on COP shares. Raymond James reaffirmed an "outperform" rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy 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 $121.30.
Get Our Latest Report on COP
ConocoPhillips Stock Performance
Shares of COP stock opened at $95.03 on Tuesday. The company has a market capitalization of $120.13 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock's fifty day simple moving average is $89.16 and its 200-day simple moving average is $95.70.
ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the business posted $2.05 EPS. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.
ConocoPhillips Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.28%. ConocoPhillips's dividend payout ratio is presently 39.64%.
About ConocoPhillips
(
Free Report)
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.
Further Reading
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