Novem Group Purchases New Shares in ConocoPhillips (NYSE:COP)

Novem Group bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,559 shares of the energy producer's stock, valued at approximately $4,121,000.

Several other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted 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 worth $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 59.8% in the fourth 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 acquired a new position in ConocoPhillips during the 4th quarter worth approximately $1,767,000. Asset Management One Co. Ltd. grew its holdings in ConocoPhillips by 11.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after acquiring an additional 54,196 shares during the period. Finally, New York State Teachers Retirement System increased 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 purchasing an additional 80,199 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 1.1%

COP traded down $0.94 during midday trading on Monday, hitting $85.19. The company's stock had a trading volume of 6,786,423 shares, compared to its average volume of 7,397,724. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $119.23. The firm has a 50-day moving average price of $92.15 and a two-hundred day moving average price of $98.16. The firm has a market cap of $107.69 billion, a P/E ratio of 10.94, a PEG ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COP shares. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday. Wells Fargo & Company dropped their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Susquehanna decreased their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Mizuho cut their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.89.

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.