Burney Co. Acquires 1,538 Shares of ConocoPhillips (COP)

Burney Co. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 17.7% during the 4th quarter, HoldingsChannel reports. The fund owned 10,248 shares of the energy producer’s stock after acquiring an additional 1,538 shares during the period. Burney Co.’s holdings in ConocoPhillips were worth $639,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after acquiring an additional 451,104 shares in the last quarter. Vanguard Group Inc boosted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after acquiring an additional 451,104 shares in the last quarter. BlackRock Inc. boosted its position in shares of ConocoPhillips by 1.0% during the 4th quarter. BlackRock Inc. now owns 80,608,101 shares of the energy producer’s stock valued at $5,025,913,000 after acquiring an additional 809,773 shares in the last quarter. Capital World Investors boosted its position in shares of ConocoPhillips by 2.4% during the 3rd quarter. Capital World Investors now owns 65,981,471 shares of the energy producer’s stock valued at $5,106,966,000 after acquiring an additional 1,571,260 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of ConocoPhillips by 54,716.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock valued at $947,125,000 after acquiring an additional 12,214,426 shares in the last quarter. Institutional investors and hedge funds own 71.57% of the company’s stock.

A number of research firms have commented on COP. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Piper Jaffray Companies restated a “hold” rating and issued a $66.00 price target on shares of ConocoPhillips in a research report on Monday, November 19th. Mizuho set a $68.00 price target on shares of ConocoPhillips and gave the company a “hold” rating in a research report on Monday, December 3rd. Finally, Societe Generale reduced their price target on shares of ConocoPhillips from $85.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and a consensus price target of $77.50.

NYSE:COP opened at $67.02 on Friday. The stock has a market capitalization of $74.45 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 2.53 and a beta of 1.11. ConocoPhillips has a 12 month low of $53.38 and a 12 month high of $80.24. The company has a current ratio of 1.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.46.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.08. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts predict that ConocoPhillips will post 3.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 11th were paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, February 8th. ConocoPhillips’s dividend payout ratio is presently 26.93%.

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ConocoPhillips Company Profile

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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