Saturna Capital Corp Takes Position in ConocoPhillips $COP

Saturna Capital Corp purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,075 shares of the energy producer’s stock, valued at approximately $1,990,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the 4th quarter valued at $25,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Frazier Financial Advisors LLC raised its position in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter valued at $33,000. Finally, Optima Capital LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Scotiabank raised their price target on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley cut their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. The Goldman Sachs Group reduced their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Barclays lifted their price target 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, Mizuho dropped their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

ConocoPhillips Stock Up 1.5%

Shares of ConocoPhillips stock opened at $117.40 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The business has a fifty day simple moving average of $113.48 and a 200 day simple moving average of $113.84. The stock has a market cap of $143.03 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

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.