Cardinal Capital Management Inc. Acquires 28,645 Shares of ConocoPhillips (NYSE:COP)

Cardinal Capital Management Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 28.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,718 shares of the energy producer’s stock after acquiring an additional 28,645 shares during the quarter. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $13,413,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of COP. Tallon Kerry Patrick bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $511,000. Silver Oak Securities Incorporated lifted its position in ConocoPhillips by 17.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 2,085 shares of the energy producer’s stock worth $202,000 after buying an additional 311 shares during the last quarter. Vest Financial LLC lifted its position in ConocoPhillips by 27.5% in the 4th quarter. Vest Financial LLC now owns 11,260 shares of the energy producer’s stock worth $1,117,000 after buying an additional 2,430 shares during the last quarter. Apollon Wealth Management LLC lifted its position in ConocoPhillips by 42.0% in the 4th quarter. Apollon Wealth Management LLC now owns 28,860 shares of the energy producer’s stock worth $2,862,000 after buying an additional 8,533 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in ConocoPhillips by 14.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 27,013 shares of the energy producer’s stock worth $2,679,000 after buying an additional 3,402 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COP shares. Susquehanna dropped their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Raymond James restated an “outperform” rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Morgan Stanley boosted their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, UBS Group dropped their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.63.

ConocoPhillips Stock Performance

Shares of COP stock opened at $88.03 on Tuesday. The stock has a fifty day moving average of $88.38 and a 200 day moving average of $96.15. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The firm has a market capitalization of $111.29 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.79 and a beta of 0.61. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

About ConocoPhillips

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.