Tocqueville Asset Management L.P. Has $8.85 Million Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• Tocqueville Asset Management L.P. increased its stake in ConocoPhillips by 113.3% in Q1, owning 84,310 shares valued at approximately $8.85 million.
• The company reported a quarterly EPS of $1.42, exceeding analyst expectations, with revenue of $14.94 billion for the quarter, a year-over-year increase of 4.3%.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, representing an annual yield of 3.3%, with a payout ratio of 41.88%.

Tocqueville Asset Management L.P. raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 113.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,310 shares of the energy producer's stock after purchasing an additional 44,790 shares during the period. Tocqueville Asset Management L.P.'s holdings in ConocoPhillips were worth $8,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of ConocoPhillips by 13.8% during the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Northern Trust Corp increased its holdings in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after acquiring an additional 2,971,661 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ConocoPhillips by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,021,394 shares of the energy producer's stock valued at $1,191,984,000 after acquiring an additional 1,078,707 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP stock opened at $95.39 on Friday. The stock has a 50 day moving average of $93.61 and a two-hundred day moving average of $93.41. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market capitalization of $119.14 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.48 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the company earned $1.98 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Analysts Set New Price Targets

A number of research analysts have recently commented on COP shares. Royal Bank Of Canada lowered their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Roth Capital reissued a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a report on Thursday, August 7th. Susquehanna lowered their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.84.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

About ConocoPhillips

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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