LGT Fund Management Co Ltd. Has $8.42 Million Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• LGT Fund Management Co Ltd. increased its stake in ConocoPhillips by 15.6%, owning 80,189 shares valued at approximately $8.42 million as of the latest SEC filing.
• ConocoPhillips reported a quarterly earnings per share of $1.42, surpassing analysts' expectations, and announced a quarterly dividend of $0.78 per share.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for ConocoPhillips, with a target price of $120.84, amid various adjustments in target prices by multiple financial institutions.

LGT Fund Management Co Ltd. lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,189 shares of the energy producer's stock after acquiring an additional 10,795 shares during the period. LGT Fund Management Co Ltd.'s holdings in ConocoPhillips were worth $8,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after acquiring an additional 293 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of ConocoPhillips by 7.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 406,697 shares of the energy producer's stock worth $42,549,000 after acquiring an additional 27,423 shares during the last quarter. Westpac Banking Corp grew its stake in shares of ConocoPhillips by 253.9% in the first quarter. Westpac Banking Corp now owns 26,650 shares of the energy producer's stock worth $2,799,000 after acquiring an additional 19,119 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter worth $31,000. Finally, Delos Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 5.9% in the first quarter. Delos Wealth Advisors LLC now owns 7,443 shares of the energy producer's stock worth $782,000 after acquiring an additional 415 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COP shares. UBS Group raised their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Bank of America reduced their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. 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. Susquehanna reduced their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.84.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $93.56 on Tuesday. The stock has a 50-day moving average price of $92.91 and a 200 day moving average price of $93.53. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a market cap of $116.85 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 2.44 and a beta of 0.67. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company's revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's payout ratio is presently 41.88%.

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.

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