ConocoPhillips $COP Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 500,030 shares of the energy producer’s stock after acquiring an additional 6,400 shares during the quarter. Gabelli Funds LLC’s holdings in ConocoPhillips were worth $66,004,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Concurrent Investment Advisors LLC lifted its position in shares of ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after purchasing an additional 20,501 shares during the last quarter. D.A. Davidson & CO. grew its stake in ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares in the last quarter. Assetmark Inc. increased its holdings in ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after buying an additional 61,361 shares during the last quarter. BXM Wealth LLC increased its holdings in ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after buying an additional 34,961 shares during the last quarter. Finally, HF Advisory Group LLC raised its stake in ConocoPhillips by 255.7% during the fourth quarter. HF Advisory Group LLC now owns 76,064 shares of the energy producer’s stock valued at $7,120,000 after buying an additional 54,679 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $120.30 on Friday. 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 business has a 50 day moving average of $113.50 and a two-hundred day moving average of $114.23. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a market cap of $146.56 billion, a P/E ratio of 20.42, a PEG ratio of 1.45 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. As a group, analysts anticipate that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Argus increased their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Raymond James Financial reduced their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Scotiabank raised their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. 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 equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Profile

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.