ConocoPhillips (NYSE:COP) Shares Bought by Pines Wealth Management LLC

Pines Wealth Management LLC grew its position in ConocoPhillips (NYSE:COP) by 5.2% during the first quarter, Holdings Channel.com reports. The firm owned 7,974 shares of the energy producer’s stock after acquiring an additional 394 shares during the period. Pines Wealth Management LLC’s holdings in ConocoPhillips were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Invesco Ltd. lifted its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COP shares. Scotiabank cut their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Raymond James reiterated an “outperform” rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.63.

ConocoPhillips Stock Up 2.1%

COP opened at $87.18 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The business has a 50 day moving average price of $88.74 and a two-hundred day moving average price of $96.54. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $110.21 billion, a PE ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

ConocoPhillips Company Profile

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.