Engineers Gate Manager LP Has $1.96 Million Stake in ConocoPhillips (COP)

Engineers Gate Manager LP grew its position in ConocoPhillips (NYSE:COP) by 98.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,045 shares of the energy producer’s stock after buying an additional 16,386 shares during the period. Engineers Gate Manager LP’s holdings in ConocoPhillips were worth $1,959,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $104,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after acquiring an additional 1,500 shares during the last quarter. Truewealth LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $138,000. First Personal Financial Services lifted its holdings in shares of ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock worth $145,000 after acquiring an additional 1,399 shares during the last quarter. Finally, Delpha Capital Management LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $149,000. 71.21% of the stock is owned by institutional investors and hedge funds.

In other news, Director Jody Freeman sold 3,716 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $65.55, for a total value of $243,583.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Janet Langford Kelly sold 64,184 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $70.00, for a total transaction of $4,492,880.00. Following the completion of the sale, the senior vice president now owns 105,395 shares in the company, valued at $7,377,650. The disclosure for this sale can be found here. Insiders sold a total of 252,289 shares of company stock worth $16,975,668 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Several brokerages have recently commented on COP. Piper Jaffray restated a “buy” rating and issued a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. Citigroup upped their price objective on shares of ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, February 9th. JPMorgan Chase upped their price objective on shares of ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 9th. Argus decreased their price objective on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $63.50.

ConocoPhillips opened at $70.66 on Friday, MarketBeat.com reports. The company has a market cap of $81.73 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22. ConocoPhillips has a 52-week low of $69.10 and a 52-week high of $70.19. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 26th. The energy producer reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The business had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.68 billion. During the same period last year, the business earned ($0.02) EPS. equities analysts expect that ConocoPhillips will post 3.6 earnings per share for the current fiscal year.

ConocoPhillips announced that its Board of Directors has authorized a share buyback plan on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be issued a $0.285 dividend. The ex-dividend date is Friday, May 11th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.61%. ConocoPhillips’s payout ratio is 190.00%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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