ConocoPhillips (NYSE:COP) Shares Acquired by World Investment Advisors

World Investment Advisors lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 29.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,506 shares of the energy producer’s stock after acquiring an additional 14,174 shares during the period. World Investment Advisors’ holdings in ConocoPhillips were worth $6,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Invesco Ltd. raised its position in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.2%

NYSE:COP opened at $94.28 on Friday. The firm has a market cap of $119.19 billion, a P/E ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $90.23 and its 200-day simple moving average is $94.80. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COP shares. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Susquehanna cut their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Mizuho cut their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.80.

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.