Ameriprise Financial Inc. Purchases 2,575,803 Shares of ConocoPhillips $COP

Ameriprise Financial Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 31.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,778,664 shares of the energy producer’s stock after acquiring an additional 2,575,803 shares during the period. Ameriprise Financial Inc. owned approximately 0.86% of ConocoPhillips worth $966,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CTC Alternative Strategies Ltd. bought a new stake in ConocoPhillips during the 2nd quarter valued at approximately $431,000. Lighthouse Investment Partners LLC lifted its holdings in shares of ConocoPhillips by 429.9% during the second quarter. Lighthouse Investment Partners LLC now owns 110,000 shares of the energy producer’s stock worth $9,871,000 after buying an additional 89,242 shares during the last quarter. Clough Capital Partners L P boosted its position in shares of ConocoPhillips by 36.5% in the second quarter. Clough Capital Partners L P now owns 17,217 shares of the energy producer’s stock valued at $1,545,000 after acquiring an additional 4,608 shares during the period. Ausdal Financial Partners Inc. grew its stake in shares of ConocoPhillips by 7.6% in the second quarter. Ausdal Financial Partners Inc. now owns 12,787 shares of the energy producer’s stock worth $1,148,000 after acquiring an additional 908 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of ConocoPhillips by 23.4% in the second quarter. Canada Pension Plan Investment Board now owns 1,452,061 shares of the energy producer’s stock worth $130,308,000 after acquiring an additional 274,960 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.2%

NYSE COP opened at $95.58 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The company has a market capitalization of $118.11 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 2.19 and a beta of 0.32. The stock’s 50 day moving average is $89.57 and its two-hundred day moving average is $92.07. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

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, topping analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.ConocoPhillips’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COP. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday. Susquehanna reduced their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, December 8th. The Goldman Sachs Group lowered their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Melius initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.54.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.

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.