Pin Oak Investment Advisors Inc. Invests $231,000 in ConocoPhillips (COP) Stock

Pin Oak Investment Advisors Inc. purchased a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,209 shares of the energy producer’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in ConocoPhillips by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock worth $709,009,000 after acquiring an additional 192,419 shares during the period. First Eagle Investment Management LLC boosted its position in ConocoPhillips by 3.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock worth $530,960,000 after acquiring an additional 309,683 shares during the period. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 4.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,805,037 shares of the energy producer’s stock worth $440,689,000 after acquiring an additional 407,471 shares during the period. Dimensional Fund Advisors LP boosted its position in ConocoPhillips by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,555,478 shares of the energy producer’s stock worth $428,199,000 after acquiring an additional 26,579 shares during the period. Finally, Boston Partners boosted its position in ConocoPhillips by 41.6% during the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock worth $449,252,000 after acquiring an additional 2,403,806 shares during the period. 71.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ConocoPhillips (NYSE COP) opened at $56.50 on Friday. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $61.31. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $66,997.93, a P/E ratio of -113.00, a P/E/G ratio of 1.68 and a beta of 1.33.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period in the previous year, the company earned ($0.26) EPS. analysts predict that ConocoPhillips will post 2.91 earnings per share for the current year.

ConocoPhillips announced that its board has authorized a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were issued a $0.285 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 9th. ConocoPhillips’s payout ratio is -228.00%.

COP has been the subject of a number of research reports. Morgan Stanley raised their price objective on ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Cowen set a $70.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group initiated coverage on ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective for the company. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a research report on Friday, December 22nd. Finally, Barclays raised their price objective on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.75.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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