ConocoPhillips (NYSE:COP) Shares Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,679 shares of the energy producer’s stock after buying an additional 2,580 shares during the period. Cullinan Associates Inc.’s holdings in ConocoPhillips were worth $2,887,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company lifted their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Trading Down 0.5 %

Shares of COP stock traded down $0.61 during mid-day trading on Tuesday, reaching $113.75. The company’s stock had a trading volume of 1,024,536 shares, compared to its average volume of 5,648,906. The company’s 50 day simple moving average is $118.30 and its 200-day simple moving average is $117.62. 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 has a 12-month low of $99.35 and a 12-month high of $135.18. The firm has a market capitalization of $133.03 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24.

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

ConocoPhillips Announces Dividend

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

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.