ConocoPhillips (NYSE:COP) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 20.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,000 shares of the energy producer's stock after acquiring an additional 4,000 shares during the quarter. Viking Fund Management LLC's holdings in ConocoPhillips were worth $2,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC boosted its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in ConocoPhillips by 27.6% in 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 acquiring an additional 2,971,661 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.67 during trading hours on Thursday, reaching $85.28. 5,048,355 shares of the company's stock were exchanged, compared to its average volume of 8,439,962. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company's 50 day moving average is $89.50 and its two-hundred day moving average is $96.91. The company has a market cap of $107.80 billion, a P/E ratio of 10.95, a price-to-earnings-growth 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.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $16.18 billion during 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 prior year, the business posted $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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 3.66%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on COP shares. UBS Group cut 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. Royal Bank of Canada reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Scotiabank cut their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Finally, Raymond James reiterated an "outperform" rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.63.

ConocoPhillips 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.