AIA Group Ltd Increases Stock Position in ConocoPhillips (NYSE:COP)

AIA Group Ltd raised its holdings in ConocoPhillips (NYSE:COPFree Report) by 100.0% during the first quarter, Holdings Channel.com reports. The firm owned 41,263 shares of the energy producer’s stock after purchasing an additional 20,633 shares during the quarter. AIA Group Ltd’s holdings in ConocoPhillips were worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the 4th 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 in the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after purchasing an additional 30,000 shares in the last quarter. ORG Wealth Partners LLC boosted its holdings in ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after purchasing an additional 54,900 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of analyst reports. Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Roth Capital reiterated a “buy” rating and set a $108.00 price target on shares of ConocoPhillips in a research report on Thursday. Susquehanna dropped their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Mizuho dropped their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $120.63.

Get Our Latest Stock Report on ConocoPhillips

ConocoPhillips Trading Up 1.4%

Shares of COP opened at $93.91 on Monday. The stock has a fifty day moving average of $92.77 and a two-hundred day moving average of $93.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $118.72 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.67. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COPGet Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 EPS. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.24% 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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