22,310 Shares in ConocoPhillips $COP Acquired by Clough Capital Partners L P

Clough Capital Partners L P bought a new position in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,310 shares of the energy producer’s stock, valued at approximately $2,945,000.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. SummitTX Capital L.P. purchased a new position in ConocoPhillips in the first quarter valued at about $717,000. Gateway Wealth Partners LLC bought a new position in ConocoPhillips in the first quarter worth about $1,380,000. Weiss Asset Management LP purchased a new stake in shares of ConocoPhillips during the first quarter valued at about $11,128,000. Cypress Capital Group lifted its position in shares of ConocoPhillips by 5.5% during the first quarter. Cypress Capital Group now owns 16,646 shares of the energy producer’s stock valued at $2,197,000 after buying an additional 873 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of ConocoPhillips by 23.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 68,400 shares of the energy producer’s stock valued at $9,029,000 after buying an additional 13,183 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $120.30 on Monday. The business’s 50-day moving average is $113.50 and its two-hundred day moving average is $114.33. The company has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business 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 firm posted $2.09 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group reduced their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group raised their target price 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. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a report on Monday, June 22nd. Susquehanna upped their price target on ConocoPhillips from $152.00 to $155.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $134.16.

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.