Schafer Cullen Capital Management Inc Has $125.50 Million Position in ConocoPhillips (COP)
Schafer Cullen Capital Management Inc increased its stake in ConocoPhillips (NYSE:COP) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,012,796 shares of the energy producer’s stock after purchasing an additional 17,308 shares during the quarter. ConocoPhillips accounts for 1.9% of Schafer Cullen Capital Management Inc’s portfolio, making the stock its 17th largest position. Schafer Cullen Capital Management Inc owned about 0.17% of ConocoPhillips worth $125,498,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of COP. Smart Portfolios LLC boosted its stake in shares of ConocoPhillips by 69.5% during the 4th quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after acquiring an additional 196 shares during the last quarter. Athena Capital Advisors LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $32,000. Ironwood Financial llc lifted its stake in shares of ConocoPhillips by 294.1% during the 4th quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock valued at $33,000 after buying an additional 400 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $47,000. Finally, Moody National Bank Trust Division lifted its stake in shares of ConocoPhillips by 536.6% during the 4th quarter. Moody National Bank Trust Division now owns 853 shares of the energy producer’s stock valued at $53,000 after buying an additional 719 shares in the last quarter. Institutional investors own 73.54% of the company’s stock.
Shares of NYSE COP opened at $66.07 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.66 and a current ratio of 1.79. The firm has a market capitalization of $74.95 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 2.55 and a beta of 1.11. ConocoPhillips has a 52-week low of $56.57 and a 52-week high of $80.24.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 11th were issued a $0.305 dividend. The ex-dividend date was Friday, February 8th. This represents a $1.22 dividend on an annualized basis and a yield of 1.85%. ConocoPhillips’s dividend payout ratio is currently 26.93%.
A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $75.00 in a research note on Thursday. Mizuho set a $68.00 target price on shares of ConocoPhillips and gave the company a “hold” rating in a research note on Monday, December 3rd. Finally, Zacks Investment Research cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $78.06.
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ConocoPhillips Company Profile
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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