QRG Capital Management Inc. raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,586 shares of the energy producer's stock after buying an additional 12,609 shares during the quarter. QRG Capital Management Inc.'s holdings in ConocoPhillips were worth $19,975,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Tritonpoint Wealth LLC boosted its position in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer's stock worth $747,000 after purchasing an additional 110 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock worth $231,000 after acquiring an additional 113 shares in the last quarter. KLCM Advisors Inc. grew its stake in ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after acquiring an additional 115 shares during the period. Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer's stock valued at $314,000 after acquiring an additional 117 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after acquiring an additional 118 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips Price Performance
NYSE COP opened at $94.17 on Friday. The firm's 50 day moving average is $94.92 and its 200-day moving average is $92.85. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $117.61 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its 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. The business had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's payout ratio is currently 41.88%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Melius Research began coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Raymond James Financial dropped their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Wells Fargo & Company reiterated an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of ConocoPhillips in a research report on Saturday, September 27th. Finally, Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $119.77.
Read Our Latest Research Report on COP
ConocoPhillips Profile
(
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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