ConocoPhillips $COP Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in ConocoPhillips (NYSE:COP) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,756 shares of the energy producer’s stock after acquiring an additional 4,794 shares during the period. Bleakley Financial Group LLC’s holdings in ConocoPhillips were worth $4,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. KERR FINANCIAL PLANNING Corp purchased a new stake in ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the 4th quarter worth $28,000. Finally, BNP Paribas acquired a new position in ConocoPhillips in the 2nd quarter worth $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Wolfe Research upped their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Mizuho decreased their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Finally, Scotiabank lifted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Stock Down 0.9%

Shares of NYSE:COP opened at $111.81 on Wednesday. The company’s fifty day moving average is $113.65 and its two-hundred day moving average is $113.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The stock has a market capitalization of $136.22 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.35 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the business posted $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 9.27 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. ConocoPhillips’s dividend payout ratio is 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.