ConocoPhillips $COP Shares Purchased by May Hill Capital LLC

May Hill Capital LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,046 shares of the energy producer’s stock after purchasing an additional 242 shares during the period. May Hill Capital LLC’s holdings in ConocoPhillips were worth $273,000 at the end of the most recent quarter.

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

ConocoPhillips Stock Up 0.8%

Shares of ConocoPhillips stock opened at $88.71 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a 50 day moving average of $93.22 and a 200 day moving average of $91.96. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $110.79 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.35 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. The Goldman Sachs Group dropped their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Raymond James Financial dropped their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.63.

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.