MQS Management LLC Invests $1.08 Million in ConocoPhillips $COP

MQS Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,197 shares of the energy producer’s stock, valued at approximately $1,082,000. ConocoPhillips comprises 0.7% of MQS Management LLC’s portfolio, making the stock its 3rd biggest position.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after purchasing an additional 298,245 shares during the period. Natixis Advisors LLC grew its holdings in shares of ConocoPhillips by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after buying an additional 160,410 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at $1,892,000. Finally, D.A. Davidson & CO. raised its stake in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.4%

ConocoPhillips stock opened at $103.76 on Wednesday. The company has a market cap of $126.41 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.20 and a beta of 0.11. The firm has a 50-day moving average of $116.70 and a 200-day moving average of $112.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. UBS Group raised their price target on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Scotiabank lifted their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research note on Monday, June 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.76.

About ConocoPhillips

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.