ConocoPhillips $COP Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 18.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,028 shares of the energy producer’s stock after buying an additional 31,644 shares during the period. QRG Capital Management Inc.’s holdings in ConocoPhillips were worth $26,800,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the 4th quarter worth $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips in the 4th quarter valued at about $28,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter worth about $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. Capital One Financial cut their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a report on Monday, June 22nd. Barclays lifted their price objective on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips Price Performance

COP stock opened at $104.64 on Friday. The business has a 50 day moving average price of $115.76 and a 200 day moving average price of $112.13. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market cap of $127.48 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.20 and a beta of 0.12. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.