ConocoPhillips $COP Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,198,534 shares of the energy producer’s stock after buying an additional 22,457 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ConocoPhillips were worth $158,207,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the 4th quarter worth $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC boosted its stake in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. BNP Paribas acquired a new position in ConocoPhillips during the second quarter worth $33,000. Finally, Optima Capital LLC acquired a new position in ConocoPhillips during the fourth quarter worth $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Susquehanna raised their target price on ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a report on Tuesday. Jefferies Financial Group increased their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. The Goldman Sachs Group lowered their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Wolfe Research increased their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Stock Up 1.2%

COP stock opened at $118.86 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company’s 50 day simple moving average is $113.51 and its 200-day simple moving average is $114.02. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The firm has a market capitalization of $144.81 billion, a PE ratio of 20.18, a P/E/G ratio of 1.42 and a beta of 0.12.

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. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities analysts expect that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

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.