Aberdeen Group plc Raises Position in ConocoPhillips (NYSE:COP)

Aberdeen Group plc lifted its stake in ConocoPhillips (NYSE:COP) by 49.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 801,426 shares of the energy producer’s stock after buying an additional 264,726 shares during the period. Aberdeen Group plc owned approximately 0.06% of ConocoPhillips worth $83,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of COP. Bridgewater Associates LP boosted its position in shares of ConocoPhillips by 157.5% in the fourth quarter. Bridgewater Associates LP now owns 7,929 shares of the energy producer’s stock worth $786,000 after buying an additional 4,850 shares during the period. Jump Financial LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth about $1,128,000. Evergreen Capital Management LLC boosted its position in shares of ConocoPhillips by 6.9% in the fourth quarter. Evergreen Capital Management LLC now owns 19,455 shares of the energy producer’s stock worth $1,929,000 after buying an additional 1,250 shares during the period. Main Street Financial Solutions LLC boosted its position in shares of ConocoPhillips by 7.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 3,388 shares of the energy producer’s stock worth $336,000 after buying an additional 249 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of ConocoPhillips by 33.3% in the fourth quarter. NewEdge Advisors LLC now owns 139,918 shares of the energy producer’s stock worth $13,876,000 after buying an additional 34,931 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COP shares. UBS Group upped their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Bank of America cut their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Royal Bank Of Canada cut their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Finally, Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $120.84.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 0.3%

Shares of NYSE COP opened at $95.39 on Friday. The stock’s 50 day moving average price is $93.61 and its two-hundred day moving average price is $93.46. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The stock has a market capitalization of $119.14 billion, a P/E ratio of 12.80, a PEG ratio of 2.49 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. ConocoPhillips’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio is 41.88%.

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.