Townsquare Capital LLC Grows Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Townsquare Capital LLC increased its ownership stake in ConocoPhillips by 31.5% during the first quarter, acquiring a total of 137,007 shares valued at approximately $14.39 million.
• ConocoPhillips reported a quarterly earnings per share of $1.42, exceeding analysts' expectations, with revenue of $14.94 billion, a 4.3% increase year-over-year.
• The company declared a quarterly dividend of $0.78 per share, translating to an annualized yield of 3.3%, with a dividend payout ratio of 39.64%.

Townsquare Capital LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 31.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,007 shares of the energy producer's stock after purchasing an additional 32,841 shares during the quarter. Townsquare Capital LLC's holdings in ConocoPhillips were worth $14,388,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Northern Trust Corp boosted its position in ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. GAMMA Investing LLC boosted its position in ConocoPhillips by 10,440.1% in the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock valued at $311,299,000 after buying an additional 2,936,066 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in ConocoPhillips by 116.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,318,179 shares of the energy producer's stock valued at $428,234,000 after buying an additional 2,324,080 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

COP traded down $0.35 during midday trading on Monday, reaching $93.56. The company had a trading volume of 6,491,348 shares, compared to its average volume of 6,219,974. The business has a 50-day moving average price of $92.77 and a two-hundred day moving average price of $93.59. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market cap of $116.85 billion, a PE ratio of 12.56, a P/E/G ratio of 2.44 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio is 41.88%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COP. Royal Bank Of Canada dropped their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Finally, Raymond James Financial lifted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $120.84.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.24% of the company's stock.

ConocoPhillips Company Profile

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.