OVERSEA CHINESE BANKING Corp Ltd Boosts Stock Position in ConocoPhillips (NYSE:COP)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 326.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,734 shares of the energy producer's stock after buying an additional 279,272 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in ConocoPhillips were worth $365,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of COP. Vanguard Group Inc. grew its holdings in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 13.8% in the fourth 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 purchasing an additional 5,549,078 shares during the last quarter. Invesco Ltd. boosted its position in ConocoPhillips by 37.1% in the fourth 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 during the last quarter. Geode Capital Management LLC boosted its position in ConocoPhillips by 13.7% in the fourth 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 during the last quarter. Finally, Northern Trust Corp boosted its position in ConocoPhillips by 27.6% in the fourth 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 during the last quarter. Institutional investors own 82.36% of the company's stock.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $1.10 during midday trading on Thursday, reaching $92.61. 2,843,552 shares of the company traded hands, compared to its average volume of 7,626,474. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market capitalization of $117.07 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. The firm's fifty day moving average price is $90.89 and its two-hundred day moving average price is $94.68.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.37%. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. UBS Group boosted their price objective on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Scotiabank set a $100.00 price objective on ConocoPhillips and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.70.

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.