Pinebridge Investments L.P. Has $43 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Pinebridge Investments L.P. grew its position in ConocoPhillips (NYSE:COP - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 433,586 shares of the energy producer's stock after acquiring an additional 34,995 shares during the quarter. Pinebridge Investments L.P.'s holdings in ConocoPhillips were worth $42,999,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COP. Morse Asset Management Inc bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $805,000. Anchor Investment Management LLC lifted its position in shares of ConocoPhillips by 5.5% during the 3rd quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer's stock worth $1,192,000 after buying an additional 589 shares during the period. Fulcrum Equity Management boosted its stake in ConocoPhillips by 24.1% in the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer's stock valued at $625,000 after buying an additional 1,155 shares in the last quarter. World Investment Advisors LLC grew its position in ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer's stock valued at $4,625,000 after acquiring an additional 38,740 shares during the period. Finally, Arvest Bank Trust Division acquired a new position in ConocoPhillips during the third quarter worth $11,549,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.0 %

ConocoPhillips stock traded down $0.02 during trading hours on Friday, reaching $91.78. 4,736,631 shares of the company's stock traded hands, compared to its average volume of 7,163,329. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $130.44. The firm has a market capitalization of $116.03 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.79 and a beta of 0.83. The firm's 50 day moving average is $94.56 and its 200-day moving average is $100.52.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.40%. ConocoPhillips's payout ratio is presently 40.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $116.00 target price on shares of ConocoPhillips in a report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank of Canada lowered their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $126.89.

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.