Berkeley Capital Partners LLC Acquires 3,445 Shares of ConocoPhillips (NYSE:COP)

Berkeley Capital Partners LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 79.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,795 shares of the energy producer's stock after purchasing an additional 3,445 shares during the quarter. Berkeley Capital Partners LLC's holdings in ConocoPhillips were worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC raised its stake in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after buying an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. raised its position in shares of ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after acquiring an additional 7,174 shares in the last quarter. Brookstone Capital Management raised its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after acquiring an additional 383 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock valued at $262,094,000 after purchasing an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after purchasing an additional 4,504,653 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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ConocoPhillips Stock Performance

COP stock traded up $0.36 on Monday, hitting $102.28. The company had a trading volume of 6,767,381 shares, compared to its average volume of 6,434,781. 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 has a 12-month low of $86.81 and a 12-month high of $135.18. The stock has a market cap of $130.14 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. The stock's 50-day simple moving average is $99.17 and its 200 day simple moving average is $103.33.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips's payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Barclays lowered 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. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an "overweight" rating and a $128.00 target price for the company. Finally, Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Two research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $133.05.

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.