First Hawaiian Bank Acquires 6,335 Shares of ConocoPhillips (NYSE:COP)

First Hawaiian Bank boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 23.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,736 shares of the energy producer's stock after purchasing an additional 6,335 shares during the period. First Hawaiian Bank's holdings in ConocoPhillips were worth $3,543,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% in the 4th 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 acquiring an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock valued at $1,901,000 after acquiring an additional 7,174 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $1,767,000. Asset Management One Co. Ltd. grew its holdings in shares of ConocoPhillips by 11.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock valued at $50,345,000 after acquiring an additional 54,196 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of ConocoPhillips by 7.4% in the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock valued at $116,118,000 after acquiring an additional 80,199 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.48 during mid-day trading on Friday, reaching $85.12. 20,169,963 shares of the company were exchanged, compared to its average volume of 7,420,742. The company has a fifty day simple moving average of $90.46 and a 200-day simple moving average of $97.44. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. 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 firm has a market cap of $107.61 billion, a PE ratio of 10.93, a PEG ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the company posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.67%. ConocoPhillips's payout ratio is 39.64%.

Analyst Ratings Changes

Several brokerages have recently weighed in on COP. Royal Bank of Canada decreased their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday. Wells Fargo & Company reduced their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Raymond James reiterated an "outperform" rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Bank of America reduced their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Barclays reduced their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.63.

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.