AlphaCrest Capital Management LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 1,347.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,239 shares of the energy producer’s stock after purchasing an additional 57,939 shares during the period. ConocoPhillips makes up about 0.6% of AlphaCrest Capital Management LLC’s portfolio, making the stock its 10th biggest holding. AlphaCrest Capital Management LLC’s holdings in ConocoPhillips were worth $4,154,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $1,372,000. Coldstream Capital Management Inc. acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $268,000. Ontario Teachers Pension Plan Board lifted its holdings in ConocoPhillips by 252.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 131,799 shares of the energy producer’s stock worth $8,796,000 after purchasing an additional 94,355 shares during the last quarter. MML Investors Services LLC lifted its holdings in ConocoPhillips by 32.4% during the 1st quarter. MML Investors Services LLC now owns 71,509 shares of the energy producer’s stock worth $4,772,000 after purchasing an additional 17,501 shares during the last quarter. Finally, Bollard Group LLC lifted its holdings in ConocoPhillips by 11.2% during the 1st quarter. Bollard Group LLC now owns 115,539 shares of the energy producer’s stock worth $7,711,000 after purchasing an additional 11,613 shares during the last quarter. 72.16% of the stock is owned by institutional investors and hedge funds.
Shares of COP opened at $58.55 on Thursday. ConocoPhillips has a 52-week low of $56.75 and a 52-week high of $80.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86. The firm has a market capitalization of $66.64 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The company had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same quarter last year, the company posted $0.96 EPS. Equities research analysts expect that ConocoPhillips will post 4.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.305 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.22 annualized dividend and a dividend yield of 2.08%. ConocoPhillips’s payout ratio is 26.93%.
COP has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Piper Jaffray Companies upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, March 21st. 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, March 13th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $78.36.
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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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