UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 840,180 Shares of ConocoPhillips $COP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ConocoPhillips (NYSE:COP) by 14.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,805,977 shares of the energy producer’s stock after purchasing an additional 840,180 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ConocoPhillips were worth $707,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Bank of America Corp DE bought a new stake in ConocoPhillips in the 2nd quarter worth $1,260,482,000. Primecap Management Co. CA purchased a new stake in shares of ConocoPhillips during the second quarter worth about $1,204,726,000. Legal & General Group Plc bought a new stake in shares of ConocoPhillips in the second quarter worth about $716,151,000. Jupiter Topco LLC bought a new stake in shares of ConocoPhillips in the second quarter worth about $427,954,000. Finally, Capital International Investors increased its holdings in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.7%

NYSE COP opened at $130.46 on Friday. The firm has a market capitalization of $156.73 billion, a PE ratio of 17.26, a P/E/G ratio of 1.37 and a beta of 0.11. The stock’s 50 day moving average is $117.42 and its 200 day moving average is $118.56. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.88. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s payout ratio is presently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Morgan Stanley boosted their target price on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Capital One Financial dropped their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Barclays reduced their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $140.29.

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.