Mediolanum International Funds Ltd Has $57.35 Million Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• Mediolanum International Funds Ltd increased its stake in ConocoPhillips by 23.1% in the first quarter, now holding 560,208 shares valued at approximately $57.35 million.
• Analysts have given multiple ratings updates on ConocoPhillips, with UBS raising its target price from $111 to $115 while maintaining a "buy" rating.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.29% and reflecting a dividend payout ratio of 39.64%.

Mediolanum International Funds Ltd boosted its stake in 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 firm owned 560,208 shares of the energy producer's stock after purchasing an additional 104,984 shares during the period. ConocoPhillips makes up approximately 0.8% of Mediolanum International Funds Ltd's holdings, making the stock its 24th largest position. Mediolanum International Funds Ltd's holdings in ConocoPhillips were worth $57,348,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% during 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 during the period. Invesco Ltd. lifted its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC lifted its stake in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Northern Trust Corp lifted its stake in ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of ConocoPhillips by 10,440.1% during the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock valued at $311,299,000 after buying an additional 2,936,066 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.0%

Shares of NYSE COP traded down $0.98 during trading hours on Wednesday, hitting $97.01. The stock had a trading volume of 2,351,076 shares, compared to its average volume of 8,173,408. The company has a market capitalization of $122.64 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.53 and a beta of 0.61. The firm's 50-day moving average price is $91.44 and its two-hundred day moving average price is $94.28. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the company earned $2.05 EPS. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Susquehanna cut their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. UBS Group increased their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Citigroup dropped their price objective 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. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $121.33.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was 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 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.