Stone Ridge Asset Management LLC Acquires New Position in ConocoPhillips (COP)

Stone Ridge Asset Management LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,441 shares of the energy producer’s stock, valued at approximately $713,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of ConocoPhillips by 6.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 13,470 shares of the energy producer’s stock worth $840,000 after acquiring an additional 799 shares during the last quarter. Brinker Capital Inc. lifted its holdings in shares of ConocoPhillips by 5.8% in the 4th quarter. Brinker Capital Inc. now owns 84,568 shares of the energy producer’s stock worth $5,273,000 after acquiring an additional 4,660 shares during the last quarter. Caxton Associates LP acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $2,494,000. RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $2,797,000. Finally, Avalon Advisors LLC lifted its holdings in shares of ConocoPhillips by 132.7% in the 4th quarter. Avalon Advisors LLC now owns 909,148 shares of the energy producer’s stock worth $56,685,000 after acquiring an additional 518,494 shares during the last quarter. 73.54% of the stock is owned by institutional investors.

Shares of NYSE:COP opened at $66.07 on Monday. ConocoPhillips has a 52 week low of $56.57 and a 52 week high of $80.24. The company has a current ratio of 1.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $74.95 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 2.55 and a beta of 1.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.08. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $0.45 EPS. On average, research analysts forecast that ConocoPhillips will post 3.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 11th were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, February 8th. ConocoPhillips’s dividend payout ratio is presently 26.93%.

A number of equities research analysts have issued reports on the stock. Mizuho set a $68.00 target price on shares of ConocoPhillips and gave the stock a “hold” rating in a report on Monday, December 3rd. Wolfe Research upgraded shares of ConocoPhillips from a “market perform” rating to an “outperform” rating in a report on Monday, December 10th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, December 11th. Tudor Pickering upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, December 14th. Finally, Societe Generale reduced their target price on shares of ConocoPhillips from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and an average target price of $78.06.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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