ConocoPhillips $COP Shares Acquired by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co increased its holdings in shares of ConocoPhillips (NYSE:COP) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,819 shares of the energy producer’s stock after acquiring an additional 3,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in ConocoPhillips were worth $3,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP grew its position in ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. grew its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. grew its position in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC bought a new position in ConocoPhillips in the 1st quarter worth about $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COP shares. Wolfe Research decreased their price objective on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Royal Bank Of Canada raised their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Weiss Ratings cut shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. UBS Group reduced their target price on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Jefferies Financial Group reduced their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.01 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm’s fifty day simple moving average is $93.32 and its 200 day simple moving average is $91.92. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $109.92 billion, a PE ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is currently 41.88%.

ConocoPhillips 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.