Plato Investment Management Ltd raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 74.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,128 shares of the energy producer's stock after buying an additional 11,617 shares during the period. Plato Investment Management Ltd's holdings in ConocoPhillips were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. AXA S.A. lifted its position in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock valued at $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its stake in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock valued at $70,397,000 after purchasing an additional 44,852 shares during the last quarter. BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock worth $431,000 after purchasing an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and raised their target price for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Weiss Ratings upgraded shares of ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Susquehanna upped their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a research report on Tuesday, August 11th. UBS Group increased their price objective on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Barclays dropped their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $137.48.
View Our Latest Analysis on COP
ConocoPhillips Trading Up 0.7%
Shares of ConocoPhillips stock opened at $127.64 on Tuesday. The firm has a market cap of $153.34 billion, a PE ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock has a fifty day moving average price of $114.05 and a 200-day moving average price of $116.92.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm's quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 EPS. Equities research analysts anticipate that ConocoPhillips will post 10.05 EPS for the current year.
ConocoPhillips Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.6%. ConocoPhillips's payout ratio is currently 44.44%.
ConocoPhillips Company Profile
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Free Report)
ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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