Bank of New York Mellon Corp Grows Stock Holdings in ConocoPhillips $COP

Bank of New York Mellon Corp grew its stake in ConocoPhillips (NYSE:COP) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,181,950 shares of the energy producer’s stock after purchasing an additional 995,392 shares during the period. Bank of New York Mellon Corp’s holdings in ConocoPhillips were worth $1,344,017,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the 4th quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips during the third quarter worth about $28,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips in the fourth quarter valued at $28,000. Finally, BNP Paribas acquired a new stake in ConocoPhillips in the second quarter valued at $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $111.49 on Thursday. The firm has a fifty day simple moving average of $113.50 and a 200-day simple moving average of $113.21. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $135.82 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.12. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 9.27 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on COP shares. The Goldman Sachs Group cut their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Morgan Stanley cut their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. BMO Capital Markets reduced their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.