Bank of New York Mellon Corp Raises Stock Position in ConocoPhillips $COP

Bank of New York Mellon Corp boosted its holdings in ConocoPhillips (NYSE:COP) by 10.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,181,950 shares of the energy producer’s stock after acquiring an additional 995,392 shares during the period. Bank of New York Mellon Corp owned 0.84% of ConocoPhillips worth $1,344,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of ConocoPhillips by 200.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,128 shares of the energy producer’s stock worth $1,072,000 after acquiring an additional 5,424 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH grew its holdings in shares of ConocoPhillips by 17.7% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 9,953 shares of the energy producer’s stock valued at $1,314,000 after purchasing an additional 1,496 shares in the last quarter. Hudson Canyon Capital Management purchased a new stake in ConocoPhillips during the 1st quarter worth approximately $2,587,000. Ethos Financial Group LLC purchased a new stake in ConocoPhillips during the 1st quarter worth approximately $284,000. Finally, Sanctuary Advisors LLC lifted its holdings in ConocoPhillips by 0.3% during the 1st quarter. Sanctuary Advisors LLC now owns 229,339 shares of the energy producer’s stock worth $30,273,000 after buying an additional 776 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COP shares. Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. UBS Group lowered their price objective on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Wolfe Research upped their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Morgan Stanley reduced their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Stock Down 0.3%

COP stock opened at $111.49 on Thursday. 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 has a twelve month low of $85.57 and a twelve month high of $135.87. The company’s 50 day moving average is $113.50 and its two-hundred day moving average is $113.21. The stock has a market cap of $135.82 billion, a P/E ratio of 18.93, a PEG ratio of 1.34 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 EPS. Research analysts expect that ConocoPhillips will post 9.27 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. ConocoPhillips’s payout ratio is 57.05%.

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.