LGT Fund Management Co Ltd. Has $10.56 Million Stock Holdings in ConocoPhillips $COP

LGT Fund Management Co Ltd. grew its stake in shares of ConocoPhillips (NYSE:COP) by 36.6% in the first quarter, HoldingsChannel.com reports. The fund owned 79,991 shares of the energy producer’s stock after acquiring an additional 21,434 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in ConocoPhillips were worth $10,559,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares in the last quarter. Capital International Investors grew its stake in ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after buying an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares in the last quarter. Franklin Resources Inc. increased its holdings in ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after buying an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after buying an additional 193,401 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Susquehanna boosted their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Mizuho cut their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Price Performance

NYSE:COP traded up $1.04 on Friday, hitting $109.06. The company had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $132.86 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.31 and a beta of 0.12. The firm has a 50 day moving average of $114.15 and a two-hundred day moving average of $112.66.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 9.28 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

ConocoPhillips 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.