Price T Rowe Associates Inc. MD Purchases 4,726,952 Shares of ConocoPhillips (NYSE:COP)

Price T Rowe Associates Inc. MD increased its position in ConocoPhillips (NYSE:COPFree Report) by 24.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,712,617 shares of the energy producer’s stock after purchasing an additional 4,726,952 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.00% of ConocoPhillips worth $2,752,325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after purchasing an additional 108,956 shares in the last quarter. Northern Trust Corp raised its position in ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ConocoPhillips by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after buying an additional 270,859 shares during the last quarter. Ameriprise Financial Inc. raised its position in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in ConocoPhillips by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after buying an additional 204,714 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.33 during midday trading on Thursday, hitting $110.86. The stock had a trading volume of 5,939,170 shares, compared to its average volume of 5,499,729. The firm’s fifty day moving average is $122.46 and its two-hundred day moving average is $117.64. The company has a market capitalization of $129.65 billion, a PE ratio of 12.55, a P/E/G ratio of 2.54 and a beta of 1.22. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. On average, research analysts forecast that ConocoPhillips will post 8.93 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.81%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday. Susquehanna boosted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, UBS Group upped their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.35.

View Our Latest Research Report on ConocoPhillips

Insider Activity

In other news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 664,350 shares of company stock worth $83,537,680. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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