Becker Capital Management Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,687 shares of the energy producer’s stock after buying an additional 764 shares during the quarter. Becker Capital Management Inc.’s holdings in ConocoPhillips were worth $1,227,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Country Trust Bank boosted its holdings in shares of ConocoPhillips by 0.6% in the 4th quarter. Country Trust Bank now owns 275,763 shares of the energy producer’s stock worth $17,194,000 after purchasing an additional 1,774 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of ConocoPhillips by 1.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,420 shares of the energy producer’s stock worth $1,336,000 after purchasing an additional 329 shares during the period. Icon Advisers Inc. Co. purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $4,664,000. United Income Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $243,000. Finally, Financial Counselors Inc. boosted its holdings in shares of ConocoPhillips by 2.1% in the 4th quarter. Financial Counselors Inc. now owns 196,424 shares of the energy producer’s stock worth $12,247,000 after purchasing an additional 4,078 shares during the period. Institutional investors and hedge funds own 72.30% of the company’s stock.
A number of equities analysts have recently commented on COP shares. Tudor Pickering upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, December 14th. Wolfe Research upgraded ConocoPhillips from a “market perform” rating to an “outperform” rating in a report on Monday, December 10th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, October 29th. ValuEngine cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Barclays reiterated a “buy” rating and issued a $79.00 target price on shares of ConocoPhillips in a report on Friday, January 11th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $76.41.
Shares of NYSE COP opened at $67.78 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.79 and a quick ratio of 1.66. The firm has a market cap of $76.83 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.20 and a beta of 1.11. ConocoPhillips has a twelve month low of $52.54 and a twelve month high of $80.24.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.08. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.60 billion. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. During the same period in the previous year, the company posted $0.45 EPS. Research analysts expect that ConocoPhillips will post 3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Monday, February 11th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, February 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://transcriptdaily.com/2019/02/14/conocophillips-cop-shares-bought-by-becker-capital-management-inc.html.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
Further Reading: What is the quiet period?
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.