ConocoPhillips $COP Shares Purchased by Madison Asset Management LLC

by · The Markets Daily

Madison Asset Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 79.7% during the first quarter, HoldingsChannel reports. The fund owned 210,608 shares of the energy producer’s stock after acquiring an additional 93,408 shares during the quarter. Madison Asset Management LLC’s holdings in ConocoPhillips were worth $27,800,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips in the third quarter worth about $28,000. Frazier Financial Advisors LLC grew its stake in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. BNP Paribas bought a new stake in ConocoPhillips in the second quarter valued at about $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the fourth quarter valued at about $34,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on COP. Jefferies Financial Group increased their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Capital One Financial lowered their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.04.

Check Out Our Latest Stock Report on COP

ConocoPhillips Stock Up 0.8%

ConocoPhillips stock opened at $115.67 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a 50-day simple moving average of $113.48 and a 200-day simple moving average of $113.67. The firm has a market capitalization of $140.92 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.39 and a beta of 0.12.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 EPS. As a group, equities analysts expect that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

About ConocoPhillips

(Free Report)

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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