Park Square Financial Group LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Park Square Financial Group LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 891 shares of the energy producer’s stock, valued at approximately $88,000.

Several other hedge funds have also made changes to their positions in COP. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in ConocoPhillips in the fourth quarter valued at $1,767,000. Asset Management One Co. Ltd. boosted its holdings in ConocoPhillips by 11.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after acquiring an additional 54,196 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in ConocoPhillips by 7.4% in the fourth quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer’s stock valued at $116,118,000 after acquiring an additional 80,199 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on COP shares. Royal Bank of Canada reduced their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Morgan Stanley boosted their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Mizuho reduced their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, UBS Group cut their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.89.

ConocoPhillips Stock Up 0.3%

Shares of ConocoPhillips stock opened at $85.48 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $108.06 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $119.23. The business has a 50-day moving average price of $91.49 and a 200 day moving average price of $97.89.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the company earned $2.05 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.