Citizens Financial Group Inc RI lifted its stake in ConocoPhillips (NYSE:COP) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,687 shares of the energy producer’s stock after purchasing an additional 971 shares during the quarter. Citizens Financial Group Inc RI’s holdings in ConocoPhillips were worth $12,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Armor Investment Advisors LLC grew its holdings in ConocoPhillips by 2.5% during the first quarter. Armor Investment Advisors LLC now owns 13,176 shares of the energy producer’s stock valued at $879,000 after purchasing an additional 322 shares during the last quarter. Advisor Group Inc. grew its holdings in ConocoPhillips by 37.0% during the first quarter. Advisor Group Inc. now owns 180,140 shares of the energy producer’s stock valued at $12,026,000 after purchasing an additional 48,637 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $123,000. Godshalk Welsh Capital Management Inc. grew its holdings in ConocoPhillips by 3.2% during the first quarter. Godshalk Welsh Capital Management Inc. now owns 22,330 shares of the energy producer’s stock valued at $1,490,000 after purchasing an additional 700 shares during the last quarter. Finally, Mcdaniel Terry & Co. acquired a new position in ConocoPhillips during the first quarter valued at approximately $440,000. 72.09% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE COP traded down $0.27 during midday trading on Friday, reaching $61.00. 6,019,120 shares of the company traded hands, compared to its average volume of 6,681,473. The business’s 50-day moving average price is $60.28. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. ConocoPhillips has a 12 month low of $56.75 and a 12 month high of $80.24. The firm has a market capitalization of $69.25 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.56 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.305 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a yield of 2.00%. ConocoPhillips’s payout ratio is 26.93%.
Several equities analysts have commented on COP shares. ValuEngine downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $74.00 to $80.00 in a research note on Wednesday. Credit Suisse Group upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Tuesday, April 30th. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, March 21st. Finally, Morgan Stanley raised their price objective on shares of ConocoPhillips from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $79.21.
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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