Regal Partners Ltd Invests $5.86 Million in ConocoPhillips $COP

Regal Partners Ltd purchased a new stake in ConocoPhillips (NYSE:COP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,410 shares of the energy producer’s stock, valued at approximately $5,862,000.

Other hedge funds also recently modified their holdings of the company. Rokos Capital Management LLP bought a new position in ConocoPhillips in the first quarter valued at about $4,065,000. Empowered Funds LLC grew its holdings in shares of ConocoPhillips by 6.8% during the first quarter. Empowered Funds LLC now owns 367,506 shares of the energy producer’s stock worth $48,511,000 after purchasing an additional 23,550 shares during the last quarter. Copley Financial Group Inc. acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $471,000. Clough Capital Partners L P acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $2,945,000. Finally, SummitTX Capital L.P. bought a new position in ConocoPhillips in the 1st quarter valued at approximately $717,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Citigroup upped their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein lifted their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Wolfe Research boosted their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Stock Performance

Shares of COP stock opened at $114.07 on Wednesday. The business’s 50 day simple moving average is $113.10 and its 200 day simple moving average is $114.60. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The stock has a market capitalization of $138.97 billion, a PE ratio of 19.37, a PEG ratio of 1.40 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the business earned $2.09 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.