Westwood Holdings Group Inc. Purchases 141,377 Shares of ConocoPhillips (NYSE:COP)

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Westwood Holdings Group Inc. grew its position in ConocoPhillips (NYSE:COP) by 13.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,195,318 shares of the energy producer’s stock after acquiring an additional 141,377 shares during the quarter. Westwood Holdings Group Inc. owned 0.11% of ConocoPhillips worth $72,914,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in COP. Marshall Wace LLP increased its holdings in ConocoPhillips by 71.3% during the 2nd quarter. Marshall Wace LLP now owns 305,359 shares of the energy producer’s stock valued at $18,628,000 after purchasing an additional 127,136 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in ConocoPhillips by 4.1% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 224,238 shares of the energy producer’s stock valued at $13,679,000 after purchasing an additional 8,769 shares in the last quarter. BP Capital Fund Advisors LLC acquired a new stake in ConocoPhillips during the 2nd quarter valued at $1,007,000. Alberta Investment Management Corp increased its holdings in ConocoPhillips by 1,466.9% during the 2nd quarter. Alberta Investment Management Corp now owns 965,200 shares of the energy producer’s stock valued at $58,877,000 after purchasing an additional 903,600 shares in the last quarter. Finally, Man Group plc increased its holdings in ConocoPhillips by 11.4% during the 2nd quarter. Man Group plc now owns 2,414,519 shares of the energy producer’s stock valued at $147,287,000 after purchasing an additional 247,473 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.

Shares of ConocoPhillips stock traded up $1.13 during trading on Friday, reaching $61.10. 5,895,343 shares of the company were exchanged, compared to its average volume of 6,679,431. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. ConocoPhillips has a twelve month low of $50.13 and a twelve month high of $80.24. The business has a 50-day moving average price of $54.24 and a 200-day moving average price of $60.67. The firm has a market capitalization of $67.96 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.67 and a beta of 1.04.

ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02). The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The business’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 3.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd were issued a dividend of $0.305 per share. The ex-dividend date was Friday, July 19th. This represents a $1.22 annualized dividend and a yield of 2.00%. ConocoPhillips’s dividend payout ratio is presently 26.93%.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, July 17th. Mizuho raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $74.00 to $80.00 in a research note on Wednesday, June 26th. Barclays initiated coverage on ConocoPhillips in a research note on Monday, August 19th. They issued an “overweight” rating and a $79.00 target price for the company. Finally, UBS Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $70.00 to $75.00 in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $76.71.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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