ConocoPhillips (NYSE:COP) Shares Acquired by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,716 shares of the energy producer’s stock after acquiring an additional 405 shares during the period. Griffin Asset Management Inc.’s holdings in ConocoPhillips were worth $5,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cardinal Capital Management Inc. purchased a new position in shares of ConocoPhillips during the 4th quarter valued at about $13,468,000. Columbia Trust Co 01012016 lifted its holdings in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the period. Raymond James & Associates boosted its position in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in shares of ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after purchasing an additional 212 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $5,594,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP traded up $0.41 during trading on Friday, reaching $114.38. The company’s stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. The company has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.03 and a beta of 1.22. The firm has a fifty day simple moving average of $118.30 and a two-hundred day simple moving average of $117.53. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

Several analysts recently commented on COP shares. Piper Sandler raised their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Susquehanna lifted their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips 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.