Meeder Asset Management Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,371 shares of the energy producer’s stock after purchasing an additional 4,834 shares during the quarter. ConocoPhillips accounts for about 0.8% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Meeder Asset Management Inc.’s holdings in ConocoPhillips were worth $10,103,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. BTIM Corp. boosted its holdings in shares of ConocoPhillips by 6.0% in the first quarter. BTIM Corp. now owns 778,239 shares of the energy producer’s stock worth $51,939,000 after buying an additional 43,907 shares during the last quarter. South Texas Money Management Ltd. lifted its holdings in ConocoPhillips by 18.6% during the first quarter. South Texas Money Management Ltd. now owns 11,990 shares of the energy producer’s stock valued at $800,000 after purchasing an additional 1,877 shares in the last quarter. American Research & Management Co. lifted its holdings in ConocoPhillips by 9.8% during the first quarter. American Research & Management Co. now owns 11,173 shares of the energy producer’s stock valued at $746,000 after purchasing an additional 1,000 shares in the last quarter. Means Investment CO. Inc. lifted its holdings in ConocoPhillips by 33.7% during the first quarter. Means Investment CO. Inc. now owns 20,425 shares of the energy producer’s stock valued at $1,363,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Lincoln Capital LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 74.23% of the company’s stock.
Shares of COP stock traded up $0.68 during mid-day trading on Friday, hitting $61.92. 6,410,936 shares of the stock traded hands, compared to its average volume of 7,719,618. The firm has a market cap of $69.55 billion, a price-to-earnings ratio of 13.67, a PEG 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. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a dividend of $0.305 per share. The ex-dividend date is Friday, May 10th. This represents a $1.22 annualized dividend and a dividend yield of 1.97%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.
Several equities analysts have weighed in on the stock. ValuEngine downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research report on Wednesday, May 1st. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $75.00 in a research report on Thursday, March 21st. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Wednesday, March 13th. Finally, Morgan Stanley lifted their price objective on shares of ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.20.
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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.
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