Ninety One UK Ltd Buys New Holdings in ConocoPhillips $COP

Key Points

• Ninety One UK Ltd has acquired a new position in ConocoPhillips, purchasing 34,008 shares valued at approximately $3,052,000 during the second quarter.
• Analysts have given ConocoPhillips a consensus rating of "Moderate Buy", with a target price averaging around $120.14.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, representing an annual yield of 3.3%.

Ninety One UK Ltd purchased a new position in ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 34,008 shares of the energy producer's stock, valued at approximately $3,052,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC boosted its position in ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock valued at $38,000 after purchasing an additional 293 shares during the period. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Susquehanna dropped their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Melius initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Trading Up 0.8%

Shares of COP stock opened at $95.39 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a fifty day simple moving average of $94.98 and a two-hundred day simple moving average of $93.00. The firm has a market capitalization of $119.13 billion, a PE ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the previous year, the company earned $1.98 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips's dividend payout ratio is 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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