15,075 Shares in ConocoPhillips $COP Bought by Saturna Capital Corp

Saturna Capital Corp purchased a new position in ConocoPhillips (NYSE:COP) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 15,075 shares of the energy producer’s stock, valued at approximately $1,990,000.

Other hedge funds also recently modified their holdings of the company. Frazier Financial Advisors LLC lifted its stake in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter worth $25,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter worth $36,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Finally, Avalon Trust Co acquired a new stake in shares of ConocoPhillips during the first quarter worth $40,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.5%

Shares of COP stock opened at $117.40 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm’s fifty day moving average price is $113.48 and its two-hundred day moving average price is $113.84. The firm has a market capitalization of $143.03 billion, a P/E ratio of 19.93, a PEG ratio of 1.40 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 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 for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced 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 was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. UBS Group cut their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. BMO Capital Markets lowered their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Argus lifted their price target on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $134.16.

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.