Gabelli Funds LLC Boosts Stake in ConocoPhillips (NYSE:COP)

Gabelli Funds LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 546,827 shares of the energy producer’s stock after acquiring an additional 30,927 shares during the quarter. Gabelli Funds LLC’s holdings in ConocoPhillips were worth $54,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Orrstown Financial Services Inc. raised its stake in ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its position in ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares in the last quarter. Arlington Trust Co LLC increased its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after buying an additional 102 shares in the last quarter. Courier Capital LLC boosted its holdings in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after acquiring an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. grew its position in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1 %

NYSE COP opened at $86.32 on Tuesday. The company has a market cap of $109.12 billion, a PE ratio of 11.08, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $132.61. The stock has a 50 day moving average of $96.24 and a 200-day moving average of $101.91. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group decreased their target price on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley dropped their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.74.

ConocoPhillips Profile

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.