ConocoPhillips $COP Stock Position Increased by Gabelli Funds LLC

Gabelli Funds LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 500,030 shares of the energy producer’s stock after acquiring an additional 6,400 shares during the period. Gabelli Funds LLC’s holdings in ConocoPhillips were worth $66,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $28,000. Frazier Financial Advisors LLC grew its holdings in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares in the last quarter. BNP Paribas bought a new position in ConocoPhillips in the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at approximately $34,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Raymond James Financial decreased their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. The Goldman Sachs Group lowered their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Wolfe Research upped their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Stock Performance

Shares of COP opened at $120.30 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm’s 50 day moving average is $113.50 and its 200-day moving average is $114.23. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The stock has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 0.12.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

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.