Arrowstreet Capital Limited Partnership Has $304.96 Million Stock Holdings in ConocoPhillips $COP

Arrowstreet Capital Limited Partnership increased its holdings in shares of ConocoPhillips (NYSE:COP) by 46,105.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,310,281 shares of the energy producer’s stock after buying an additional 2,305,281 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in ConocoPhillips were worth $304,957,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in shares of ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after purchasing an additional 20,501 shares in the last quarter. D.A. Davidson & CO. raised its stake in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the period. Assetmark Inc. boosted its holdings in ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock worth $38,402,000 after acquiring an additional 61,361 shares in the last quarter. BXM Wealth LLC increased its holdings in shares of ConocoPhillips by 691.6% during the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after acquiring an additional 34,961 shares in the last quarter. Finally, HF Advisory Group LLC raised its position in shares of ConocoPhillips by 255.7% during the fourth quarter. HF Advisory Group LLC now owns 76,064 shares of the energy producer’s stock worth $7,120,000 after purchasing an additional 54,679 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.1%

Shares of NYSE:COP opened at $120.30 on Friday. The firm has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 0.12. 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 stock has a 50 day moving average price of $113.50 and a 200-day moving average price of $114.23. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COP. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Scotiabank lifted their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Susquehanna upped their price objective on shares of ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

About ConocoPhillips

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.