NorthRock Partners LLC Buys 6,318 Shares of ConocoPhillips (NYSE:COP)

NorthRock Partners LLC lifted its stake in ConocoPhillips (NYSE:COP) by 88.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,444 shares of the energy producer’s stock after purchasing an additional 6,318 shares during the period. NorthRock Partners LLC’s holdings in ConocoPhillips were worth $1,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COP. Albion Financial Group UT grew its holdings in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter worth about $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips during the 4th quarter worth about $32,000. Finally, Retirement Wealth Solutions LLC bought a new position in ConocoPhillips during the 4th quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $92.72 on Thursday. The firm has a market capitalization of $117.21 billion, a P/E ratio of 11.90, a PEG ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $93.29 and a 200 day moving average price of $99.20. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $122.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the firm posted $2.05 EPS. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COP shares. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Scotiabank decreased their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, UBS Group decreased their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.74.

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.