Empirical Finance LLC Has $6.33 Million Holdings in ConocoPhillips (NYSE:COP)

Empirical Finance LLC raised its position in ConocoPhillips (NYSE:COP) by 3.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 49,705 shares of the energy producer’s stock after purchasing an additional 1,467 shares during the quarter. Empirical Finance LLC’s holdings in ConocoPhillips were worth $6,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. West Branch Capital LLC lifted its position in shares of ConocoPhillips by 87.8% during 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 in the last quarter. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Sachetta LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its position in shares of ConocoPhillips by 96.0% during 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 in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.7 %

COP traded down $0.85 during trading hours on Friday, hitting $113.14. 4,460,390 shares of the company’s stock were exchanged, compared to its average volume of 5,585,846. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18. The stock’s 50-day moving average is $115.68 and its two-hundred day moving average is $117.43. The stock has a market cap of $132.32 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 2.01 and a beta of 1.23. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. Sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.76%. ConocoPhillips’s dividend payout ratio is 26.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James restated a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.69.

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.