ConocoPhillips (NYSE:COP) Shares Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 79.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,445 shares of the energy producer's stock after acquiring an additional 2,856 shares during the quarter. Malaga Cove Capital LLC's holdings in ConocoPhillips were worth $639,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 13.8% in 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 buying an additional 5,549,078 shares during the last quarter. Capital International Investors lifted its position in shares of ConocoPhillips by 4.9% in the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after buying an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of 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. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Bank of America downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price objective 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.74.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.62 during trading hours on Friday, hitting $92.34. 6,693,880 shares of the company traded hands, compared to its average volume of 7,314,385. The firm has a market cap of $116.73 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 0.64. 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 firm's 50-day simple moving average is $93.24 and its two-hundred day simple moving average is $99.06. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $122.11.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results 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 firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the company earned $2.05 EPS. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.38%. ConocoPhillips's dividend payout ratio is currently 39.64%.

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.