Raiffeisen Bank International AG Invests $413,000 in ConocoPhillips (NYSE:COP)

Raiffeisen Bank International AG bought a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,261 shares of the energy producer’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tallon Kerry Patrick bought a new position in ConocoPhillips in the 4th quarter valued at $511,000. Legacy Wealth Asset Management LLC increased its stake in shares of ConocoPhillips by 7.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 7,245 shares of the energy producer’s stock valued at $718,000 after buying an additional 530 shares in the last quarter. Carnegie Investment Counsel increased its stake in shares of ConocoPhillips by 127.4% in the fourth quarter. Carnegie Investment Counsel now owns 17,105 shares of the energy producer’s stock valued at $1,696,000 after buying an additional 9,583 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of ConocoPhillips by 12.4% in the fourth quarter. Ritholtz Wealth Management now owns 29,358 shares of the energy producer’s stock valued at $2,911,000 after buying an additional 3,232 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its position in ConocoPhillips by 17.0% during the 4th quarter. Hennessy Advisors Inc. now owns 36,324 shares of the energy producer’s stock worth $3,602,000 after buying an additional 5,279 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Mizuho dropped their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. UBS Group reduced their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Stock Performance

Shares of COP stock opened at $92.34 on Friday. The stock has a market cap of $116.73 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The stock has a 50-day moving average of $93.24 and a 200-day moving average of $99.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $79.88 and a one year high of $122.11.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.38%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

About ConocoPhillips

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.