Townsquare Capital LLC Has $10.33 Million Stock Position in ConocoPhillips (NYSE:COP)

Townsquare Capital LLC lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 47.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,166 shares of the energy producer's stock after acquiring an additional 33,667 shares during the period. Townsquare Capital LLC's holdings in ConocoPhillips were worth $10,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Morse Asset Management Inc bought a new stake in shares of ConocoPhillips in the 3rd quarter worth $805,000. Anchor Investment Management LLC grew its holdings in ConocoPhillips by 5.5% during the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer's stock worth $1,192,000 after acquiring an additional 589 shares during the period. Fulcrum Equity Management raised its position in ConocoPhillips by 24.1% in the third quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer's stock worth $625,000 after acquiring an additional 1,155 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of ConocoPhillips by 746.7% during the 3rd quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer's stock valued at $4,625,000 after purchasing an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $11,549,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 target price for the company. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Scotiabank dropped their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut their price objective on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.32.

Remove Ads

ConocoPhillips Stock Up 0.7 %

ConocoPhillips stock traded up $0.60 during mid-day trading on Wednesday, hitting $86.32. 6,090,442 shares of the company's stock were exchanged, compared to its average volume of 8,778,324. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The stock has a 50 day moving average of $95.95 and a two-hundred day moving average of $101.80. The stock has a market cap of $109.12 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.61%. ConocoPhillips's dividend payout ratio is 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.