ProShare Advisors LLC Purchases 41,604 Shares of ConocoPhillips (NYSE:COP)

ProShare Advisors LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 20.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 240,246 shares of the energy producer's stock after buying an additional 41,604 shares during the quarter. ProShare Advisors LLC's holdings in ConocoPhillips were worth $23,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the 4th quarter worth $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC bought a new position in ConocoPhillips in the 4th quarter worth $36,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $92.34 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $122.11. The company's 50-day moving average is $93.24 and its 200 day moving average is $99.06. The company has a market capitalization of $116.73 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth 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.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm 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 quarter last year, the firm posted $2.05 EPS. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COP shares. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada reduced their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $122.74.

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.

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