Sei Investments Co. Acquires 202,932 Shares of ConocoPhillips $COP

Sei Investments Co. raised its stake in shares of ConocoPhillips (NYSE:COP) by 22.5% in the first quarter, Holdings Channel reports. The institutional investor owned 1,104,021 shares of the energy producer’s stock after buying an additional 202,932 shares during the quarter. Sei Investments Co.’s holdings in ConocoPhillips were worth $145,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AXA S.A. raised its position in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $33,000. Osterweis Capital Management Inc. bought a new position in shares of ConocoPhillips during the second quarter worth $151,000. Main Street Financial Solutions LLC lifted its position in shares of ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after buying an additional 1,675 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of ConocoPhillips by 3.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,978,987 shares of the energy producer’s stock valued at $177,594,000 after acquiring an additional 62,916 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 1.3%

Shares of ConocoPhillips stock opened at $120.30 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a market cap of $146.56 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a 50-day simple moving average of $113.54 and a two-hundred day simple moving average of $114.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. As a group, equities analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio is 57.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Scotiabank upped their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein increased their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.16.

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.