Russell Investments Group Ltd. boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,526,837 shares of the energy producer's stock after acquiring an additional 177,578 shares during the period. Russell Investments Group Ltd. owned 0.13% of ConocoPhillips worth $158,736,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. AQR Capital Management LLC lifted its position in ConocoPhillips by 229.2% during the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer's stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the period. Janus Henderson Group PLC boosted its stake in shares of ConocoPhillips by 207.9% in the 1st quarter. Janus Henderson Group PLC now owns 3,697,232 shares of the energy producer's stock valued at $488,030,000 after purchasing an additional 2,496,606 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of ConocoPhillips by 46,105.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer's stock worth $304,957,000 after buying an additional 2,305,281 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips Stock Performance
Shares of NYSE:COP opened at $127.64 on Tuesday. The firm's 50 day simple moving average is $114.05 and its 200 day simple moving average is $116.92. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a market capitalization of $153.34 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The business's revenue for the quarter was up 32.4% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current year.
ConocoPhillips Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Mizuho reduced their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, May 15th. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Roth Capital raised ConocoPhillips from a "neutral" rating to a "buy" rating and increased their price target for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Scotiabank lifted their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.48.
Read Our Latest Stock Analysis on COP
ConocoPhillips Company Profile
(
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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