Perpetual Ltd Buys 19,119 Shares of ConocoPhillips (NYSE:COP)

Perpetual Ltd grew its stake in shares of ConocoPhillips (NYSE:COP) by 122.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,750 shares of the energy producer’s stock after buying an additional 19,119 shares during the period. Perpetual Ltd’s holdings in ConocoPhillips were worth $3,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the fourth quarter valued at about $26,000. 10Elms LLP bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $32,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter worth approximately $35,000. Finally, Rakuten Securities Inc. increased its position in shares of ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after purchasing an additional 262 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $90.20 on Friday. The firm has a market cap of $114.03 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The business has a 50 day moving average price of $89.96 and a 200-day moving average price of $95.07.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.46%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday. Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Barclays decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.