Mn Services Vermogensbeheer B.V. increased its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 647,625 shares of the energy producer’s stock after buying an additional 7,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in ConocoPhillips were worth $43,222,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its holdings in ConocoPhillips by 7.7% during the third quarter. Neuberger Berman Group LLC now owns 289,262 shares of the energy producer’s stock valued at $22,388,000 after buying an additional 20,758 shares during the last quarter. Vanguard Group Inc increased its stake in shares of ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after purchasing an additional 451,104 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $921,000. Gradient Investments LLC increased its stake in shares of ConocoPhillips by 56.6% in the fourth quarter. Gradient Investments LLC now owns 1,474 shares of the energy producer’s stock worth $92,000 after purchasing an additional 533 shares in the last quarter. Finally, Nachman Norwood & Parrott Inc purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $3,362,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.
Shares of NYSE:COP opened at $62.45 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 1.72. ConocoPhillips has a fifty-two week low of $56.75 and a fifty-two week high of $80.24. The firm has a market cap of $70.18 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.50 and a beta of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.305 per share. 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 1.95%. ConocoPhillips’s dividend payout ratio is 26.93%.
A number of analysts have recently issued reports on COP shares. Piper Jaffray Companies raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, March 21st. Morgan Stanley increased their price objective on shares of ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Zacks Investment Research raised shares of ConocoPhillips from a “strong sell” rating to a “hold” rating in a research note on Monday, February 11th. Credit Suisse Group raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Tuesday, April 30th. Finally, Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $82.00 in a research note on Sunday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $78.60.
ConocoPhillips Company 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.
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