Jennison Associates LLC Has $35.92 Million Stock Holdings in ConocoPhillips $COP

Jennison Associates LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 77.6% during the first quarter, HoldingsChannel reports. The firm owned 272,114 shares of the energy producer’s stock after buying an additional 118,874 shares during the quarter. Jennison Associates LLC’s holdings in ConocoPhillips were worth $35,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its stake in ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares during the period. D.A. Davidson & CO. raised its position in shares of ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the period. Czech National Bank raised its position in shares of ConocoPhillips by 2.7% during the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after purchasing an additional 8,635 shares during the period. BXM Wealth LLC raised its position in shares of ConocoPhillips by 691.6% during the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after purchasing an additional 34,961 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of ConocoPhillips by 17.6% during the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after purchasing an additional 61,361 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Susquehanna upped their price target on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. Finally, Argus raised their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Price Performance

NYSE COP opened at $115.67 on Tuesday. The firm’s 50 day moving average is $113.48 and its 200-day moving average is $113.67. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $140.92 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.39 and a beta of 0.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

About ConocoPhillips

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.