ConocoPhillips (NYSE:COP) Shares Purchased by Ceeto Capital Group LLC

Ceeto Capital Group LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 100.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the energy producer’s stock after acquiring an additional 3,000 shares during the period. Ceeto Capital Group LLC’s holdings in ConocoPhillips were worth $764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD raised its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its stake in ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after acquiring an additional 2,023,263 shares during the last quarter. Capital International Investors raised its stake in ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in ConocoPhillips by 3,931.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock valued at $185,304,000 after acquiring an additional 1,419,764 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Scotiabank cut their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Sanford C. Bernstein cut their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Price Performance

NYSE:COP traded down $0.17 during trading hours on Friday, reaching $110.86. 5,199,044 shares of the company traded hands, compared to its average volume of 4,714,127. The firm’s 50-day moving average is $113.75 and its 200-day moving average is $117.21. The stock has a market cap of $129.65 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities research analysts expect that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

ConocoPhillips Profile

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.