ConocoPhillips (NYSE:COP) Stake Increased by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 12.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,043 shares of the energy producer’s stock after purchasing an additional 434 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ConocoPhillips were worth $515,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. West Branch Capital LLC boosted its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC acquired a new position in ConocoPhillips in the fourth quarter worth $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter worth $27,000. Cape Investment Advisory Inc. boosted its holdings in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in ConocoPhillips in the first quarter worth $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3 %

COP stock traded up $0.37 during mid-day trading on Wednesday, reaching $111.20. 1,992,045 shares of the stock traded hands, compared to its average volume of 5,571,589. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $105.77 and a 52-week high of $135.18. The company has a market cap of $130.05 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.02 and a beta of 1.23. The stock’s fifty day moving average is $114.34 and its 200-day moving average is $117.25.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, sell-side analysts expect that ConocoPhillips will post 8.81 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COP shares. Morgan Stanley boosted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Susquehanna boosted their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.24.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.