Patten Group Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,406 shares of the energy producer’s stock after buying an additional 1,167 shares during the quarter. Patten Group Inc.’s holdings in ConocoPhillips were worth $399,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Smart Portfolios LLC increased its stake in shares of ConocoPhillips by 69.5% in the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after buying an additional 196 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $32,000. Ironwood Financial llc increased its stake in shares of ConocoPhillips by 294.1% in the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock valued at $33,000 after buying an additional 400 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $47,000. Finally, Moody National Bank Trust Division increased its stake in shares of ConocoPhillips by 536.6% in the fourth quarter. Moody National Bank Trust Division now owns 853 shares of the energy producer’s stock valued at $53,000 after buying an additional 719 shares during the period. Institutional investors and hedge funds own 71.57% of the company’s stock.
Several equities research analysts have recently weighed in on COP shares. Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Piper Jaffray Companies reissued a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, February 12th. Morgan Stanley increased their price target on ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Mizuho set a $68.00 price target on ConocoPhillips and gave the company a “hold” rating in a research note on Monday, December 3rd. Finally, Barclays reissued a “buy” rating and issued a $79.00 price target on shares of ConocoPhillips in a research note on Friday, January 11th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $77.50.
NYSE COP opened at $67.35 on Thursday. ConocoPhillips has a one year low of $53.38 and a one year high of $80.24. The company has a market cap of $74.45 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 2.53 and a beta of 1.11. The company has a quick ratio of 1.66, a current ratio of 1.79 and a debt-to-equity ratio of 0.46.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, research analysts predict that ConocoPhillips will post 3.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 11th were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Friday, February 8th. This represents a $1.22 annualized dividend and a yield of 1.81%. ConocoPhillips’s dividend payout ratio is currently 26.93%.
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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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