Zurich Insurance Group Ltd FI bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 337,801 shares of the energy producer's stock, valued at approximately $33,500,000.
Several other hedge funds also recently modified their holdings of COP. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the 4th quarter valued at $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the 4th quarter valued at $32,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in ConocoPhillips by 310.1% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer's stock worth $36,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on COP shares. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Barclays decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $122.74.
Read Our Latest Research Report on COP
ConocoPhillips Stock Performance
NYSE:COP opened at $90.33 on Tuesday. The firm has a market cap of $114.19 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The business's fifty day moving average is $93.09 and its 200 day moving average is $98.84. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.11.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the company earned $2.05 EPS. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.45%. ConocoPhillips's dividend payout ratio is currently 39.64%.
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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