ARGA Investment Management LP Acquires 4,362 Shares of ConocoPhillips (NYSE:COP)

ARGA Investment Management LP grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 34.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,128 shares of the energy producer's stock after purchasing an additional 4,362 shares during the period. ARGA Investment Management LP's holdings in ConocoPhillips were worth $1,799,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Gray Wealth Management Inc. lifted its position in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after acquiring an additional 104 shares in the last quarter. Plancorp LLC increased its position in shares of ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after buying an additional 104 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of ConocoPhillips by 3.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock worth $289,000 after buying an additional 105 shares in the last quarter. Councilmark Asset Management LLC lifted its holdings in shares of ConocoPhillips by 0.5% in the fourth quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock worth $1,948,000 after buying an additional 106 shares in the last quarter. Finally, Second Line Capital LLC boosted its position in shares of ConocoPhillips by 2.2% in the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after acquiring an additional 108 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.3%

Shares of NYSE:COP traded up $0.28 on Friday, reaching $95.65. 965,215 shares of the company traded hands, compared to its average volume of 7,625,989. The business's 50-day simple moving average is $90.50 and its 200 day simple moving average is $94.78. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The stock has a market capitalization of $120.92 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Analyst Ratings Changes

Several research firms have issued reports on COP. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Mizuho reduced their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Bank of America decreased their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Citigroup lowered their target price 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. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $121.70.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.24% of the company's stock.

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.