IFM Investors Pty Ltd Raises Stock Position in ConocoPhillips (NYSE:COP)

IFM Investors Pty Ltd raised its stake in ConocoPhillips (NYSE:COPGet Rating) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,462 shares of the energy producer’s stock after buying an additional 30,219 shares during the period. IFM Investors Pty Ltd’s holdings in ConocoPhillips were worth $20,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in COP. Delos Wealth Advisors LLC increased its holdings in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock valued at $27,000 after buying an additional 351 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in ConocoPhillips by 49.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock valued at $38,000 after buying an additional 175 shares in the last quarter. DeDora Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $39,000. Tyler Stone Wealth Management acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $47,000. Finally, Covestor Ltd acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $49,000. 78.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COP shares. Societe Generale increased their price target on shares of ConocoPhillips to $127.00 in a research report on Thursday, June 9th. The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lowered their price target for the company from $135.00 to $134.00 in a research report on Tuesday, July 19th. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. Finally, KeyCorp raised their target price on shares of ConocoPhillips from $112.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, April 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $119.05.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 40,603 shares of ConocoPhillips stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the sale, the director now owns 666,002 shares of the company’s stock, valued at approximately $68,151,984.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas G. Olds sold 19,200 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $110.51, for a total value of $2,121,792.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Leach sold 40,603 shares of the business’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the completion of the sale, the director now directly owns 666,002 shares of the company’s stock, valued at approximately $68,151,984.66. The disclosure for this sale can be found here. Insiders have sold 644,703 shares of company stock valued at $77,172,426 in the last quarter. Company insiders own 0.08% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $97.43 on Monday. The company’s fifty day simple moving average is $98.83 and its 200-day simple moving average is $97.23. ConocoPhillips has a 52 week low of $51.41 and a 52 week high of $124.08. The company has a current ratio of 1.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The company has a market cap of $126.02 billion, a PE ratio of 10.04, a P/E/G ratio of 0.30 and a beta of 1.40.

ConocoPhillips (NYSE:COPGet Rating) last issued its earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $18.36 billion. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 14.64 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, June 28th were paid a dividend of $0.70 per share. This is an increase from ConocoPhillips’s previous dividend of $0.30. The ex-dividend date was Monday, June 27th. This represents a yield of 3.21%. ConocoPhillips’s payout ratio is 18.97%.

ConocoPhillips Company Profile

(Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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