Global Assets Advisory LLC Takes $1.93 Million Position in ConocoPhillips (NYSE:COP)

Global Assets Advisory LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,184 shares of the energy producer’s stock, valued at approximately $1,933,000.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $27,000. West Branch Capital LLC grew its holdings in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Cooksen Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Finally, Cape Investment Advisory Inc. grew its holdings in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.2 %

NYSE:COP opened at $114.96 on Wednesday. ConocoPhillips has a 52-week low of $99.35 and a 52-week high of $135.18. The stock’s 50 day moving average price is $119.17 and its 200 day moving average price is $117.57. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $134.45 billion, a PE ratio of 13.02, a P/E/G ratio of 2.05 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. On average, research analysts anticipate that ConocoPhillips will post 8.89 EPS for the current 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. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Royal Bank of Canada upped their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Barclays upped their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Mizuho decreased their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Four equities 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 data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

About ConocoPhillips

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.