Bessemer Group Inc. Has $317.02 Million Stake in ConocoPhillips $COP

Bessemer Group Inc. increased its position in ConocoPhillips (NYSE:COP) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,401,650 shares of the energy producer’s stock after buying an additional 71,406 shares during the quarter. Bessemer Group Inc.’s holdings in ConocoPhillips were worth $317,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. AXA S.A. lifted its holdings in shares of ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after acquiring an additional 40,499 shares during the period. Sei Investments Co. boosted its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares in the last quarter. BNP Paribas bought a new stake in ConocoPhillips in the second quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips in the second quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC raised its position in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $112.77 on Friday. 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 stock has a market capitalization of $137.38 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.35 and a beta of 0.12. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The firm’s 50-day moving average price is $113.46 and its two-hundred day moving average price is $113.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Scotiabank upped their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets cut their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. UBS Group lowered their price target on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.04.

About ConocoPhillips

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.