Cardinal Capital Management Inc. Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Cardinal Capital Management Inc. increased its position in ConocoPhillips (NYSE:COP) by 28.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 127,718 shares of the energy producer’s stock after purchasing an additional 28,645 shares during the period. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $13,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Invesco Ltd. grew its stake in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC grew its stake 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 worth $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.9%

NYSE COP opened at $88.03 on Tuesday. The stock’s 50-day moving average price is $88.38 and its 200-day moving average price is $96.15. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a market capitalization of $111.29 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Susquehanna lowered their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. UBS Group lowered their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a 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 $121.63.

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.