Boston Partners Has $577.47 Million Stock Holdings in ConocoPhillips $COP

Boston Partners boosted its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,424,232 shares of the energy producer’s stock after purchasing an additional 244,810 shares during the quarter. Boston Partners owned about 0.51% of ConocoPhillips worth $577,471,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. boosted its holdings in ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after purchasing an additional 287,970 shares during the period. Wellington Management Group LLP lifted its position in shares of ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares during the period. Goldman Sachs Group Inc. lifted its position in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Primecap Management Co. CA raised its holdings in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after buying an additional 3,135,315 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the transaction, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $86.56 on Wednesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $108.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50-day simple moving average is $90.22 and its 200 day simple moving average is $91.90. The company has a market cap of $106.96 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period last year, the business posted $1.78 EPS. ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.9%. ConocoPhillips’s payout ratio is 47.52%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BMO Capital Markets cut their target price on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Raymond James Financial decreased their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho lowered their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, The Goldman Sachs Group decreased their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $115.16.

ConocoPhillips Company 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.