Associated Banc Corp Has $3.45 Million Holdings in ConocoPhillips (COP)

Associated Banc Corp grew its position in ConocoPhillips (NYSE:COP) by 0.7% during the first quarter, HoldingsChannel.com reports. The firm owned 51,661 shares of the energy producer’s stock after buying an additional 375 shares during the quarter. Associated Banc Corp’s holdings in ConocoPhillips were worth $3,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COP. Pineno Levin & Ford Asset Management Inc. increased its position in ConocoPhillips by 0.4% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock worth $2,357,000 after acquiring an additional 150 shares during the period. First Commonwealth Financial Corp PA increased its position in ConocoPhillips by 2.8% during the fourth quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock worth $340,000 after acquiring an additional 150 shares during the period. Fishman Jay A Ltd. MI increased its position in ConocoPhillips by 0.4% during the fourth quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock worth $2,386,000 after acquiring an additional 152 shares during the period. Arete Wealth Advisors LLC increased its position in ConocoPhillips by 1.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock worth $675,000 after acquiring an additional 158 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its position in ConocoPhillips by 0.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock worth $2,284,000 after acquiring an additional 160 shares during the period. 73.71% of the stock is currently owned by institutional investors.

Shares of ConocoPhillips stock opened at $59.88 on Friday. The firm has a market capitalization of $67.68 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. The company had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $9.16 billion. During the same quarter in the previous year, the company earned $0.96 EPS. Analysts expect that ConocoPhillips will post 4.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a $0.305 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.22 annualized dividend and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio is presently 26.93%.

COP has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of ConocoPhillips from $83.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $82.00 in a report on Sunday, February 3rd. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. Piper Jaffray Companies raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $75.00 in a report on Thursday, March 21st. Finally, ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $78.60.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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