BTIM Corp. Buys 43,907 Shares of ConocoPhillips (NYSE:COP)

BTIM Corp. increased its position in shares of ConocoPhillips (NYSE:COP) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 778,239 shares of the energy producer’s stock after purchasing an additional 43,907 shares during the period. BTIM Corp. owned about 0.07% of ConocoPhillips worth $51,939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in ConocoPhillips by 54,716.8% in the third quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock worth $947,125,000 after purchasing an additional 12,214,426 shares in the last quarter. Norges Bank acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $738,471,000. Oregon Public Employees Retirement Fund lifted its stake in shares of ConocoPhillips by 6,059.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,910,095 shares of the energy producer’s stock valued at $127,000 after acquiring an additional 7,781,667 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ConocoPhillips by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock valued at $710,012,000 after acquiring an additional 2,532,290 shares during the period. Finally, Morgan Stanley lifted its stake in shares of ConocoPhillips by 30.0% during the third quarter. Morgan Stanley now owns 6,275,872 shares of the energy producer’s stock valued at $485,752,000 after acquiring an additional 1,449,736 shares during the period. Institutional investors and hedge funds own 74.23% of the company’s stock.

Several equities analysts have weighed in on COP shares. Barclays reissued a “buy” rating and issued a $79.00 target price on shares of ConocoPhillips in a research note on Friday, January 11th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Wednesday, March 13th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the stock from $76.00 to $82.00 in a report on Sunday, February 3rd. Morgan Stanley set a $77.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and an average target price of $78.20.

COP stock traded up $0.68 during mid-day trading on Friday, reaching $61.92. The company had a trading volume of 6,410,936 shares, compared to its average volume of 7,719,618. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market cap of $69.55 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.48 and a beta of 1.06. ConocoPhillips has a 52 week low of $56.75 and a 52 week high of $80.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The company had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. During the same period last year, the firm posted $0.96 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.305 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.97%. ConocoPhillips’s payout ratio is 26.93%.

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ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading: Debt-To-Equity Ratio

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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