Encore Global Management LP Makes New $2.24 Million Investment in ConocoPhillips $COP

Key Points

• Encore Global Management LP acquired 17,000 ConocoPhillips shares worth approximately $2.24 million, making COP a 1.6% portfolio holding. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a positive outlook, with 18 Buy ratings, nine Holds and one Sell; the stock has a consensus rating of Moderate Buy and an average price target of $134.16.
• ConocoPhillips reported quarterly earnings of $1.89 per share, exceeding expectations, while revenue fell 6.1% year over year. The company pays a quarterly dividend of $0.84, or $3.36 annually, representing a 2.9% yield.

Encore Global Management LP acquired a new position in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,000 shares of the energy producer's stock, valued at approximately $2,244,000. ConocoPhillips comprises about 1.6% of Encore Global Management LP's investment portfolio, making the stock its 26th biggest position.

Several other large investors have also bought and sold shares of the stock. Concurrent Investment Advisors LLC lifted its stake in shares of ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after acquiring an additional 20,501 shares during the period. D.A. Davidson & CO. increased its position in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock valued at $14,572,000 after purchasing an additional 14,833 shares during the period. Assetmark Inc. raised its holdings in ConocoPhillips by 17.6% during the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer's stock worth $38,402,000 after purchasing an additional 61,361 shares during the last quarter. BXM Wealth LLC raised its holdings in ConocoPhillips by 691.6% during the 4th quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer's stock worth $3,746,000 after purchasing an additional 34,961 shares during the last quarter. Finally, HF Advisory Group LLC lifted its position in shares of ConocoPhillips by 255.7% in the 4th quarter. HF Advisory Group LLC now owns 76,064 shares of the energy producer's stock worth $7,120,000 after purchasing an additional 54,679 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COP. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Wolfe Research boosted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a report on Monday, April 6th. UBS Group cut their price target on shares of ConocoPhillips from $155.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and increased their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Citigroup lifted their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average target price of $134.16.

ConocoPhillips Stock Down 1.3%

Shares of NYSE COP opened at $114.07 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market cap of $138.97 billion, a PE ratio of 19.37, a P/E/G ratio of 1.40 and a beta of 0.12. The company's fifty day simple moving average is $113.10 and its 200 day simple moving average is $114.60. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business's revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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