Edmond DE Rothschild Holding S.A. Makes New $30.32 Million Investment in ConocoPhillips $COP

Edmond DE Rothschild Holding S.A. acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the second quarter, Holdings Channel.com reports. The firm acquired 291,682 shares of the energy producer’s stock, valued at approximately $30,323,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Strathmore Capital Advisors Inc. bought a new stake in shares of ConocoPhillips in the 2nd quarter worth about $314,000. Uptick Partners LLC bought a new position in ConocoPhillips during the 2nd quarter valued at about $282,000. CM Wealth Advisors LLC purchased a new stake in ConocoPhillips in the 2nd quarter worth about $258,000. Madison Asset Management LLC purchased a new stake in ConocoPhillips in the 2nd quarter worth about $15,935,000. Finally, Csenge Advisory Group bought a new stake in ConocoPhillips in the second quarter worth about $526,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research report on Monday, June 22nd. Susquehanna lifted their target price on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. 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. Finally, Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.21.

ConocoPhillips Trading Up 0.8%

Shares of NYSE:COP opened at $130.72 on Thursday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a market capitalization of $157.04 billion, a PE ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $114.53 and its 200-day simple moving average is $117.32.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the previous year, the business posted $1.42 EPS. ConocoPhillips’s revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

ConocoPhillips Company Profile

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.