Aberdeen Group plc Has $72.04 Million Stock Holdings in ConocoPhillips $COP

Aberdeen Group plc grew its stake in ConocoPhillips (NYSE:COP) by 0.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 802,727 shares of the energy producer’s stock after buying an additional 1,301 shares during the period. Aberdeen Group plc’s holdings in ConocoPhillips were worth $72,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Focus Financial Network Inc. increased its stake in shares of ConocoPhillips by 2.9% in the first quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock valued at $548,000 after buying an additional 147 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of ConocoPhillips by 3.2% in the first quarter. NorthCrest Asset Manangement LLC now owns 54,051 shares of the energy producer’s stock valued at $5,676,000 after buying an additional 1,700 shares during the period. Marshall Financial Group LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $204,000. Everhart Financial Group Inc. increased its stake in shares of ConocoPhillips by 5.6% in the first quarter. Everhart Financial Group Inc. now owns 5,259 shares of the energy producer’s stock valued at $552,000 after buying an additional 280 shares during the period. Finally, Elevation Point Wealth Partners LLC increased its stake in shares of ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after buying an additional 8,189 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.5%

Shares of NYSE:COP opened at $87.83 on Friday. The business’s 50 day simple moving average is $94.60 and its two-hundred day simple moving average is $92.52. The firm has a market cap of $109.70 billion, a P/E ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. JPMorgan Chase & Co. raised their target price on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Capital One Financial raised their target price on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.23.

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.