Brasada Capital Management LP Raises Stock Position in ConocoPhillips (NYSE:COP)

Brasada Capital Management LP lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,898 shares of the energy producer’s stock after purchasing an additional 981 shares during the quarter. Brasada Capital Management LP’s holdings in ConocoPhillips were worth $3,220,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in COP. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Marshall Investment Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group cut their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $127.68.

ConocoPhillips Price Performance

Shares of COP opened at $89.81 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $130.77. The firm has a 50-day simple moving average of $94.89 and a 200-day simple moving average of $101.03. The company has a market capitalization of $113.53 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

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.