Griffin Asset Management Inc. Grows Stock Position in ConocoPhillips (NYSE:COP)

Griffin Asset Management Inc. boosted its position in ConocoPhillips (NYSE:COP) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,716 shares of the energy producer’s stock after buying an additional 405 shares during the period. Griffin Asset Management Inc.’s holdings in ConocoPhillips were worth $5,310,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after buying an additional 659,632 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after buying an additional 204,714 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COP shares. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Mizuho lowered their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Royal Bank of Canada boosted their price target on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Four investment 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 stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Trading Up 0.4 %

NYSE:COP traded up $0.41 on Friday, reaching $114.38. The stock had a trading volume of 7,191,846 shares, compared to its average volume of 7,011,207. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The company has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.03 and a beta of 1.22. The firm’s fifty day moving average is $118.30 and its two-hundred day moving average is $117.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. Equities analysts expect that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed 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 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

ConocoPhillips Profile

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.