Point72 Europe London LLP Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Point72 Europe London LLP lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,341 shares of the energy producer's stock after purchasing an additional 24,812 shares during the period. ConocoPhillips comprises about 2.0% of Point72 Europe London LLP's portfolio, making the stock its 12th biggest holding. Point72 Europe London LLP's holdings in ConocoPhillips were worth $33,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips during the fourth quarter worth $36,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COP. TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. Scotiabank cut their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Susquehanna cut their price objective on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday. Finally, Morgan Stanley upped their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.74.

ConocoPhillips Stock Down 1.5%

Shares of ConocoPhillips stock opened at $92.72 on Thursday. The company has a fifty day moving average price of $93.29 and a 200 day moving average price of $99.20. The stock has a market cap of $117.21 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the prior year, the business posted $2.05 earnings per share. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.

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