Exchange Traded Concepts LLC Increases Position in ConocoPhillips (NYSE:COP)

Exchange Traded Concepts LLC raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 1,666.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,703 shares of the energy producer's stock after purchasing an additional 133,680 shares during the quarter. Exchange Traded Concepts LLC's holdings in ConocoPhillips were worth $14,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% during 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 purchasing an additional 5,549,078 shares during the period. Invesco Ltd. increased 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 worth $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the period. Finally, Northern Trust Corp lifted its position in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on COP shares. Citigroup decreased 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. Scotiabank cut their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Mizuho dropped their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James reiterated an "outperform" rating and set a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Trading Down 2.0%

Shares of NYSE:COP traded down $1.94 during trading on Monday, reaching $95.02. The company's stock had a trading volume of 4,316,090 shares, compared to its average volume of 7,474,295. The stock has a market capitalization of $120.12 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month 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 firm's 50 day simple moving average is $88.91 and its two-hundred day simple moving average is $95.79.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period last year, the company earned $2.05 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

About ConocoPhillips

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.