Assetmark Inc. Boosts Holdings in ConocoPhillips $COP

Assetmark Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 6.9% during the first quarter, Holdings Channel reports. The fund owned 438,657 shares of the energy producer’s stock after acquiring an additional 28,428 shares during the period. Assetmark Inc.’s holdings in ConocoPhillips were worth $57,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Capital International Investors raised its holdings in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares in the last quarter. AQR Capital Management LLC increased its position in shares of ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth $135,265,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $128,470,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.6%

NYSE COP opened at $114.70 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The firm’s fifty day moving average is $113.48 and its two-hundred day moving average is $113.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $139.74 billion, a PE ratio of 19.47, a P/E/G ratio of 1.36 and a beta of 0.12.

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

ConocoPhillips Announces Dividend

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

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

Analysts Set New Price Targets

A number of research firms have weighed in on COP. Susquehanna raised their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Argus lifted their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Eighteen equities research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips 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.