Cardinal Capital Management Has $9.68 Million Stock Position in ConocoPhillips (NYSE:COP)

Cardinal Capital Management increased its position in shares of ConocoPhillips (NYSE:COP) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,028 shares of the energy producer’s stock after purchasing an additional 4,635 shares during the quarter. ConocoPhillips makes up approximately 1.6% of Cardinal Capital Management’s holdings, making the stock its 17th biggest holding. Cardinal Capital Management’s holdings in ConocoPhillips were worth $9,677,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after acquiring an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in ConocoPhillips by 512.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Alphinity Investment Management Pty Ltd increased its position in ConocoPhillips by 78.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after acquiring an additional 2,023,263 shares in the last quarter. International Assets Investment Management LLC increased its position in ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after acquiring an additional 1,106,305 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in ConocoPhillips by 29.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock valued at $397,288,000 after acquiring an additional 776,107 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.3 %

COP traded up $0.36 during trading on Thursday, reaching $113.97. The company had a trading volume of 3,845,777 shares, compared to its average volume of 5,687,967. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The business’s fifty day moving average price is $118.87 and its 200 day moving average price is $117.54. The company has a market cap of $133.29 billion, a P/E ratio of 12.88, a PEG ratio of 2.05 and a beta of 1.22.

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

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on COP shares. Susquehanna raised their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Company 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.