LGT Fund Management Co Ltd. Acquires 10,795 Shares of ConocoPhillips (NYSE:COP)

LGT Fund Management Co Ltd. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 15.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,189 shares of the energy producer’s stock after purchasing an additional 10,795 shares during the period. LGT Fund Management Co Ltd.’s holdings in ConocoPhillips were worth $8,421,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of COP. 10Elms LLP bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $28,000. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 293 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.4%

COP stock opened at $93.56 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $116.85 billion, a PE ratio of 12.56, a PEG ratio of 2.44 and a beta of 0.67. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The business’s 50 day simple moving average is $92.91 and its 200 day simple moving average is $93.53.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 EPS. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s payout ratio is presently 41.88%.

Analyst Ratings Changes

COP has been the topic of several research reports. Raymond James Financial boosted their target price on ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Bank of America cut their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Mizuho cut their target price 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, Roth Capital restated a “buy” rating and issued a $108.00 target price on shares of ConocoPhillips in a research note on Thursday. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $120.84.

Insider Buying and Selling 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 shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

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.