Pinebridge Investments L.P. Has $43 Million Stock Position in ConocoPhillips (NYSE:COP)

Pinebridge Investments L.P. boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 433,586 shares of the energy producer's stock after buying an additional 34,995 shares during the period. Pinebridge Investments L.P.'s holdings in ConocoPhillips were worth $42,999,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Tidal Investments LLC increased its stake in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after purchasing an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. lifted its stake 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 valued at $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Brookstone Capital Management boosted its holdings in ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after purchasing an additional 383 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in ConocoPhillips by 2.3% during the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer's stock worth $155,211,000 after buying an additional 32,948 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.02 during trading hours on Friday, hitting $91.78. 4,736,631 shares of the stock were exchanged, compared to its average volume of 7,140,070. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $130.77. The business's 50-day moving average is $94.67 and its two-hundred day moving average is $100.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market capitalization of $116.03 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.79 and a beta of 0.83.

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 for the quarter, beating 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%. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio is presently 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on COP shares. Royal Bank of Canada lowered their price objective on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Morgan Stanley restated an "overweight" rating and set a $116.00 price target on shares of ConocoPhillips in a report on Tuesday, April 15th. Finally, TD Cowen began coverage on ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.89.

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.