Campbell & CO Investment Adviser LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 20,560 shares of the energy producer’s stock, valued at approximately $1,372,000. ConocoPhillips accounts for about 0.7% of Campbell & CO Investment Adviser LLC’s holdings, making the stock its 7th largest holding.
A number of other institutional investors have also made changes to their positions in the business. Lenox Wealth Advisors LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at about $27,000. Smart Portfolios LLC grew its position in shares of ConocoPhillips by 69.5% during the 4th quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 196 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Finally, Destination Wealth Management grew its position in shares of ConocoPhillips by 592.6% during the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock valued at $37,000 after acquiring an additional 480 shares during the period. 72.16% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on COP shares. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Credit Suisse Group cut ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a report on Wednesday, May 1st. Morgan Stanley lifted their price objective on ConocoPhillips from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Finally, Piper Jaffray Companies upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $75.00 in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and an average price target of $78.36.
Shares of ConocoPhillips stock opened at $58.55 on Thursday. The company has a market cap of $66.38 billion, a PE ratio of 12.92, a P/E/G ratio of 1.42 and a beta of 1.03. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $10.06 billion for the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period in the previous year, the firm posted $0.96 EPS. As a group, analysts expect that ConocoPhillips will post 4.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.93%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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