ConocoPhillips $COP Position Raised by Primecap Management Co. CA

Primecap Management Co. CA boosted its position in ConocoPhillips (NYSE:COP) by 31.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,351,010 shares of the energy producer’s stock after purchasing an additional 2,467,555 shares during the period. Primecap Management Co. CA owned approximately 0.83% of ConocoPhillips worth $979,102,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Navalign LLC lifted its holdings in shares of ConocoPhillips by 1.1% in the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after buying an additional 108 shares during the period. Greenfield Savings Bank raised its position in ConocoPhillips by 1.2% in the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after acquiring an additional 108 shares in the last quarter. Perennial Investment Advisors LLC lifted its holdings in ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after acquiring an additional 112 shares during the last quarter. FAS Wealth Partners Inc. grew its position in ConocoPhillips by 0.9% in the second quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock worth $1,091,000 after buying an additional 112 shares during the last quarter. Finally, Strategic Blueprint LLC grew its holdings in shares of ConocoPhillips by 1.4% in the 3rd quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock worth $749,000 after acquiring an additional 112 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COP shares. BMO Capital Markets lifted their price target on ConocoPhillips from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. The Goldman Sachs Group lifted their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Citigroup boosted their price target on shares of ConocoPhillips from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 6th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.92.

ConocoPhillips Stock Performance

COP opened at $110.07 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The company has a market cap of $136.01 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The stock has a 50-day moving average of $100.91 and a 200-day moving average of $95.14. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $113.80.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 18th. ConocoPhillips’s payout ratio is currently 53.00%.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Company Profile

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.