Advisory Resource Group Takes $30.34 Million Position in ConocoPhillips (NYSE:COP)

Advisory Resource Group bought a new position in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 498,219 shares of the energy producer’s stock, valued at approximately $30,342,000. ConocoPhillips makes up about 12.1% of Advisory Resource Group’s portfolio, making the stock its biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in shares of ConocoPhillips by 561.8% during the 1st quarter. Acadian Asset Management LLC now owns 29,299 shares of the energy producer’s stock valued at $1,552,000 after acquiring an additional 24,872 shares during the last quarter. Utah Retirement Systems boosted its position in shares of ConocoPhillips by 21.2% during the 1st quarter. Utah Retirement Systems now owns 261,050 shares of the energy producer’s stock valued at $13,828,000 after acquiring an additional 45,699 shares during the last quarter. Man Group plc boosted its position in shares of ConocoPhillips by 651.4% during the 1st quarter. Man Group plc now owns 1,186,990 shares of the energy producer’s stock valued at $62,876,000 after acquiring an additional 1,029,020 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 66,520 shares of the energy producer’s stock valued at $4,051,000 after acquiring an additional 1,619 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of ConocoPhillips by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,697,687 shares of the energy producer’s stock valued at $1,043,388,000 after acquiring an additional 916,175 shares during the last quarter. 78.47% of the stock is owned by institutional investors.

In other news, Director R A. Walker purchased 18,000 shares of the stock in a transaction dated Monday, August 9th. The shares were purchased at an average cost of $55.50 per share, with a total value of $999,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

COP has been the topic of several recent research reports. Mizuho increased their price target on ConocoPhillips from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 15th. increased their price target on ConocoPhillips from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 1st. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $86.00 price target on the stock in a report on Monday. Credit Suisse Group increased their price target on ConocoPhillips from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, September 21st. Finally, KeyCorp increased their price target on ConocoPhillips from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Buy” and a consensus target price of $76.32.

Shares of ConocoPhillips stock traded up $0.20 on Thursday, reaching $73.43. The company’s stock had a trading volume of 426,141 shares, compared to its average volume of 9,517,838. The company has a market capitalization of $98.33 billion, a P/E ratio of 63.20, a PEG ratio of 1.56 and a beta of 1.77. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $75.52. The stock has a 50-day moving average price of $60.41 and a 200-day moving average price of $57.66. The company has a quick ratio of 1.97, a current ratio of 2.11 and a debt-to-equity ratio of 0.42.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.17. The business had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.44 billion. ConocoPhillips had a return on equity of 5.64% and a net margin of 5.93%. During the same period in the previous year, the business earned ($0.92) earnings per share. Sell-side analysts forecast that ConocoPhillips will post 4.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Thursday, October 28th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, October 27th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.51%. ConocoPhillips’s payout ratio is currently -177.32%.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

Featured Article: The risks of owning bonds

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.