ConocoPhillips (NYSE:COP) Shares Acquired by SIR Capital Management L.P.

SIR Capital Management L.P. grew its stake in shares of ConocoPhillips (NYSE:COP) by 78.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 885,232 shares of the energy producer’s stock after acquiring an additional 389,000 shares during the period. ConocoPhillips makes up approximately 9.1% of SIR Capital Management L.P.’s portfolio, making the stock its largest position. SIR Capital Management L.P.’s holdings in ConocoPhillips were worth $87,788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of ConocoPhillips by 8.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,790 shares of the energy producer’s stock worth $178,000 after acquiring an additional 142 shares in the last quarter. Brookstone Capital Management grew its stake in ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after acquiring an additional 383 shares during the last quarter. Sovereign Financial Group Inc. raised its position in ConocoPhillips by 37.3% during the fourth quarter. Sovereign Financial Group Inc. now owns 2,659 shares of the energy producer’s stock worth $264,000 after acquiring an additional 722 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $1,073,000. Finally, Kathmere Capital Management LLC raised its position in shares of ConocoPhillips by 20.0% during the 4th quarter. Kathmere Capital Management LLC now owns 3,118 shares of the energy producer’s stock worth $309,000 after purchasing an additional 519 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.3%

Shares of NYSE:COP opened at $92.86 on Friday. The company has a 50 day moving average of $93.30 and a two-hundred day moving average of $99.13. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $122.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $117.39 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company 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 last year, the firm earned $2.05 earnings per share. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays decreased their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. 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 report on Friday, April 11th. Finally, TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.74.

ConocoPhillips Company Profile

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.