Twinbeech Capital LP Acquires Shares of 45,304 ConocoPhillips (NYSE:COP)

Twinbeech Capital LP bought a new stake in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,304 shares of the energy producer's stock, valued at approximately $4,493,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 5,549,078 shares during the last quarter. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC raised its position in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of ConocoPhillips by 27.6% in 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. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Raymond James reissued an "outperform" rating and issued a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered their target price on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Bank of America decreased their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.89.

ConocoPhillips Stock Down 1.1%

COP stock traded down $0.94 during trading on Monday, hitting $85.19. 6,786,423 shares of the company's stock traded hands, compared to its average volume of 7,397,724. The firm has a market capitalization of $107.69 billion, a P/E ratio of 10.94, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $119.23. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $92.15 and a two-hundred day simple moving average of $98.16.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the firm earned $2.05 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

ConocoPhillips 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.