Woodline Partners LP Acquires Shares of 77,683 ConocoPhillips (NYSE:COP)

Woodline Partners LP bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 77,683 shares of the energy producer’s stock, valued at approximately $7,704,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. raised its stake in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.1%

Shares of COP stock opened at $86.15 on Friday. The stock has a market cap of $108.91 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $119.43. The business has a fifty day simple moving average of $92.45 and a 200-day simple moving average of $98.54.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the company earned $2.05 EPS. On average, 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, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Raymond James boosted their price objective on shares of ConocoPhillips from $103.00 to $109.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. UBS Group cut their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada dropped their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $121.95.

ConocoPhillips Company 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.