Bessemer Group Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,743,268 shares of the energy producer’s stock after acquiring an additional 741,728 shares during the period. ConocoPhillips comprises approximately 1.6% of Bessemer Group Inc.’s investment portfolio, making the stock its 9th largest holding. Bessemer Group Inc. owned 0.50% of ConocoPhillips worth $358,092,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pineno Levin & Ford Asset Management Inc. raised its stake in ConocoPhillips by 0.4% in the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock valued at $2,357,000 after buying an additional 150 shares during the period. Fishman Jay A Ltd. MI raised its stake in ConocoPhillips by 0.4% in the fourth quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock valued at $2,386,000 after buying an additional 152 shares during the period. Guyasuta Investment Advisors Inc. raised its stake in ConocoPhillips by 1.2% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 14,283 shares of the energy producer’s stock valued at $891,000 after buying an additional 175 shares during the period. Pinnacle Financial Partners Inc. raised its stake in ConocoPhillips by 0.5% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 39,149 shares of the energy producer’s stock valued at $2,441,000 after buying an additional 177 shares during the period. Finally, Savant Capital LLC raised its stake in ConocoPhillips by 2.8% in the fourth quarter. Savant Capital LLC now owns 6,543 shares of the energy producer’s stock valued at $408,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 71.57% of the company’s stock.
ConocoPhillips stock opened at $67.59 on Friday. ConocoPhillips has a 12 month low of $53.38 and a 12 month high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.66 and a current ratio of 1.79. The company has a market capitalization of $74.45 billion, a PE ratio of 14.92, a PEG ratio of 2.53 and a beta of 1.11.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, analysts anticipate that ConocoPhillips will post 3.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 11th were given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Friday, February 8th. ConocoPhillips’s payout ratio is 26.93%.
Several analysts have issued reports on the company. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday. Morgan Stanley upped their price objective on ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, February 12th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Finally, Barclays restated a “buy” rating and issued a $79.00 price objective on shares of ConocoPhillips in a research note on Friday, January 11th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $77.50.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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