Headlands Technologies LLC Grows Position in ConocoPhillips (NYSE:COP)

Headlands Technologies LLC increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 390.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,320 shares of the energy producer's stock after purchasing an additional 57,574 shares during the period. ConocoPhillips makes up about 0.7% of Headlands Technologies LLC's portfolio, making the stock its 20th biggest holding. Headlands Technologies LLC's holdings in ConocoPhillips were worth $7,172,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bridgewater Associates LP raised its position in shares of ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer's stock valued at $324,000 after buying an additional 1,141 shares in the last quarter. Erste Asset Management GmbH bought a new position in ConocoPhillips during the 3rd quarter worth $7,017,000. Kestra Investment Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $403,000. Paloma Partners Management Co lifted its position in shares of ConocoPhillips by 202.5% during the 3rd quarter. Paloma Partners Management Co now owns 321,944 shares of the energy producer's stock valued at $33,894,000 after acquiring an additional 215,532 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in shares of ConocoPhillips by 489.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer's stock worth $2,814,000 after purchasing an additional 22,182 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on COP shares. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.95.

ConocoPhillips Stock Down 10.2 %

ConocoPhillips stock traded down $10.86 during midday trading on Thursday, reaching $95.24. The stock had a trading volume of 9,627,787 shares, compared to its average volume of 6,802,611. 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 company has a fifty day moving average price of $99.02 and a two-hundred day moving average price of $103.33. The company has a market capitalization of $121.19 billion, a P/E ratio of 12.24, a PEG ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Announces Dividend

The firm also recently announced 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 3.28%. The ex-dividend date was Friday, February 14th. ConocoPhillips's payout ratio is presently 40.05%.

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.