Seven Mile Advisory Makes New Investment in ConocoPhillips (NYSE:COP)

Seven Mile Advisory purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,588 shares of the energy producer's stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also modified their holdings of COP. Vanguard Group Inc. increased its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. State Street Corp raised its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Assenagon Asset Management S.A. grew its position in shares of ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after buying an additional 3,541,504 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $232,859,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COP shares. UBS Group decreased their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target for the company. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $132.95.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.33 during midday trading on Tuesday, reaching $105.35. The company's stock had a trading volume of 6,809,304 shares, compared to its average volume of 6,781,207. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $134.05 billion, a P/E ratio of 13.52, a PEG ratio of 0.79 and a beta of 1.12. The firm has a 50 day moving average price of $98.94 and a 200-day moving average price of $103.29. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 2.96%. ConocoPhillips's dividend payout ratio is currently 40.05%.

ConocoPhillips Company Profile

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.