Dimensional Fund Advisors LP Raises Stock Position in ConocoPhillips $COP

Dimensional Fund Advisors LP lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,044,489 shares of the energy producer’s stock after acquiring an additional 74,261 shares during the quarter. Dimensional Fund Advisors LP’s holdings in ConocoPhillips were worth $1,457,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the fourth quarter valued at about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth about $28,000. Frazier Financial Advisors LLC boosted its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the period. BNP Paribas acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $33,000. Finally, Optima Capital LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.0%

NYSE:COP opened at $114.70 on Monday. The stock has a market cap of $139.74 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.12. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The business’s 50-day simple moving average is $113.48 and its 200 day simple moving average is $113.52.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the firm earned $2.09 EPS. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 9.2 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. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Wolfe Research raised their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Susquehanna increased their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. UBS Group dropped their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Citigroup boosted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Company 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.