BI Asset Management Fondsmaeglerselskab A S Raises Stake in ConocoPhillips $COP

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in ConocoPhillips (NYSE:COP) by 49.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 161,954 shares of the energy producer’s stock after buying an additional 53,415 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in ConocoPhillips were worth $21,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips during the 2nd quarter valued at $33,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at $685,488.70. This represents a 56.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 127,915 shares of company stock worth $16,915,448 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley raised their price objective on ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Raymond James Financial reduced their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Barclays upped their target price on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Seventeen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Price Performance

Shares of COP stock opened at $107.92 on Friday. The firm has a fifty day simple moving average of $118.65 and a 200-day simple moving average of $111.25. The company has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. 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 (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (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 the consensus estimate of $15.62 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) 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.