Quarry LP Acquires New Position in ConocoPhillips (NYSE:COP)

Quarry LP purchased a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,338 shares of the energy producer’s stock, valued at approximately $133,000.

Other large investors also recently bought and sold shares of the company. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $27,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.3 %

ConocoPhillips stock opened at $92.92 on Tuesday. The firm’s 50-day moving average is $94.43 and its 200-day moving average is $100.39. 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 has a 1 year low of $79.88 and a 1 year high of $130.44. The company has a market cap of $117.47 billion, a P/E ratio of 11.93, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.36%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada cut their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.89.

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.