Pallas Capital Advisors LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 226.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,493 shares of the energy producer's stock after purchasing an additional 21,855 shares during the period. Pallas Capital Advisors LLC's holdings in ConocoPhillips were worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the 4th quarter valued at approximately $27,000. 10Elms LLP bought a new position in ConocoPhillips in the 4th quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $36,000. 82.36% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on COP shares. Mizuho dropped their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Scotiabank decreased their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Citigroup lowered their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Royal Bank of Canada decreased their price target on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.30.
Check Out Our Latest Report on COP
ConocoPhillips Trading Up 0.8%
Shares of ConocoPhillips stock traded up $0.73 on Thursday, reaching $94.08. 4,198,311 shares of the company's stock were exchanged, compared to its average volume of 7,425,819. The firm's 50-day moving average is $88.44 and its two-hundred day moving average is $96.09. The company has a market capitalization of $118.93 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.32%. ConocoPhillips's dividend payout ratio is presently 39.64%.
About ConocoPhillips
(
Free Report)
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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