KLP Kapitalforvaltning AS Invests $54.60 Million in ConocoPhillips (NYSE:COP)

KLP Kapitalforvaltning AS bought a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 550,542 shares of the energy producer's stock, valued at approximately $54,597,000.

A number of other institutional investors have also modified their holdings of COP. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth about $31,000. Global Wealth Strategies & Associates raised its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP stock traded down $0.63 on Tuesday, reaching $101.56. The company had a trading volume of 2,289,727 shares, compared to its average volume of 6,431,063. The company's fifty day moving average is $99.17 and its 200 day moving average is $103.33. The company has a market cap of $129.22 billion, a P/E ratio of 13.02, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

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ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.07%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their target price on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective for the company. UBS Group decreased their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $133.05.

ConocoPhillips 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.