111 Capital Acquires Shares of 26,038 ConocoPhillips (NYSE:COP)

111 Capital bought a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,038 shares of the energy producer’s stock, valued at approximately $2,582,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Vanguard Group Inc. increased its holdings in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. grew its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the period. Geode Capital Management LLC grew its position in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp increased its stake in shares of ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada cut their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Raymond James restated an “outperform” rating and issued a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.89.

ConocoPhillips Stock Up 0.3%

Shares of NYSE COP opened at $85.48 on Wednesday. The business has a 50-day moving average of $91.49 and a two-hundred day moving average of $97.89. The company has a market capitalization of $108.06 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $119.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the company posted $2.05 earnings per share. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

About ConocoPhillips

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.