Union Bancaire Privee UBP SA Buys New Holdings in ConocoPhillips $COP

Union Bancaire Privee UBP SA acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, Holdings Channel reports. The firm acquired 257,350 shares of the energy producer’s stock, valued at approximately $33,808,000.

Other hedge funds also recently modified their holdings of the company. Capital International Investors lifted its position in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of ConocoPhillips by 229.2% during the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after purchasing an additional 2,503,156 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after purchasing an additional 2,216,010 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in ConocoPhillips during the 3rd quarter worth $135,265,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $105.63 on Friday. The firm’s 50 day moving average price is $117.29 and its two-hundred day moving average price is $111.81. The firm has a market cap of $128.69 billion, a P/E ratio of 17.93, a PEG ratio of 1.18 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. On average, analysts forecast that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given 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 3.2%. ConocoPhillips’s payout ratio is currently 57.05%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on COP shares. Wolfe Research raised their price target on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Citigroup increased their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Scotiabank lifted their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.32.

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.