Mercer Global Advisors Inc. ADV Has $15.34 Million Position in ConocoPhillips (NYSE:COP)

Mercer Global Advisors Inc. ADV lessened its holdings in ConocoPhillips (NYSE:COP) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 251,957 shares of the energy producer’s stock after selling 4,682 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in ConocoPhillips were worth $15,344,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in COP. Capital International Investors lifted its stake in shares of ConocoPhillips by 26.8% in the 1st quarter. Capital International Investors now owns 80,245,103 shares of the energy producer’s stock valued at $4,250,693,000 after purchasing an additional 16,936,808 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ConocoPhillips by 45.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,130,486 shares of the energy producer’s stock valued at $1,066,312,000 after purchasing an additional 6,258,117 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of ConocoPhillips by 536.3% in the 1st quarter. Jennison Associates LLC now owns 5,307,791 shares of the energy producer’s stock valued at $281,154,000 after purchasing an additional 4,473,671 shares during the last quarter. Geode Capital Management LLC raised its holdings in ConocoPhillips by 24.3% in the 1st quarter. Geode Capital Management LLC now owns 20,292,498 shares of the energy producer’s stock worth $1,071,616,000 after acquiring an additional 3,965,622 shares during the period. Finally, Northern Trust Corp raised its holdings in ConocoPhillips by 24.0% in the 1st quarter. Northern Trust Corp now owns 16,150,825 shares of the energy producer’s stock worth $855,509,000 after acquiring an additional 3,120,766 shares during the period. 78.47% of the stock is owned by institutional investors and hedge funds.

COP has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of ConocoPhillips from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, July 1st. TheStreet upgraded shares of ConocoPhillips from a “c” rating to a “b” rating in a report on Tuesday, August 3rd. Mizuho boosted their price objective on shares of ConocoPhillips from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Barclays boosted their price objective on shares of ConocoPhillips from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. Finally, Evercore ISI boosted their price objective on shares of ConocoPhillips from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, June 28th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $70.81.

NYSE COP opened at $58.42 on Wednesday. The firm has a 50-day moving average of $56.17 and a 200-day moving average of $55.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11. The stock has a market cap of $78.23 billion, a PE ratio of 49.09, a P/E/G ratio of 1.56 and a beta of 1.77. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $63.57.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the firm earned ($0.92) earnings per share. As a group, analysts predict that ConocoPhillips will post 4.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, July 26th were paid a $0.43 dividend. The ex-dividend date was Friday, July 23rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.94%. ConocoPhillips’s payout ratio is currently -177.32%.

In other ConocoPhillips news, Director R A. Walker bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The shares were acquired at an average cost of $55.50 per share, for a total transaction of $999,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jody Freeman sold 3,334 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $59.65, for a total transaction of $198,873.10. Following the sale, the director now owns 8,251 shares in the company, valued at $492,172.15. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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