Everence Capital Management Inc. purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, HoldingsChannel reports. The firm purchased 73,767 shares of the energy producer’s stock, valued at approximately $3,907,000.

Other hedge funds also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $29,000. Klaas Financial Asset Advisors LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $31,000. DB Wealth Management Group LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $35,000. Accel Wealth Management bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $35,000. Finally, Riggs Asset Managment Co. Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $40,000. 72.87% of the stock is owned by institutional investors.

Several brokerages recently issued reports on COP. Morgan Stanley boosted their price objective on ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. JPMorgan Chase & Co. began coverage on ConocoPhillips in a research report on Tuesday, January 19th. They issued a “neutral” rating for the company. The Goldman Sachs Group began coverage on ConocoPhillips in a research report on Wednesday, February 3rd. They issued a “buy” rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on ConocoPhillips from $39.00 to $50.00 in a research report on Wednesday, December 9th. Finally, Zacks Investment Research lowered ConocoPhillips from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a research report on Friday, February 5th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $53.88.

Shares of NYSE COP traded down $0.81 during trading hours on Thursday, hitting $51.57. The company had a trading volume of 273,168 shares, compared to its average volume of 11,210,197. The stock has a market capitalization of $69.73 billion, a P/E ratio of -46.35, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. ConocoPhillips has a 1-year low of $27.53 and a 1-year high of $61.14. The firm’s 50 day moving average is $54.01 and its 200-day moving average is $42.67.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Monday, February 1st. The energy producer reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $4.69 billion. ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, sell-side analysts predict that ConocoPhillips will post -0.9 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Thursday, February 11th. ConocoPhillips’s payout ratio is presently 47.91%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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