Engineers Gate Manager LP Has $1.96 Million Stake in ConocoPhillips (COP)

Engineers Gate Manager LP grew its position in ConocoPhillips (NYSE:COP) by 98.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,045 shares of the energy producer’s stock after purchasing an additional 16,386 shares during the quarter. Engineers Gate Manager LP’s holdings in ConocoPhillips were worth $1,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in COP. Geode Capital Management LLC grew its position in shares of ConocoPhillips by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 12,943,419 shares of the energy producer’s stock valued at $709,009,000 after buying an additional 192,419 shares during the last quarter. Boston Partners grew its position in shares of ConocoPhillips by 0.4% in the 1st quarter. Boston Partners now owns 8,213,737 shares of the energy producer’s stock valued at $486,992,000 after buying an additional 29,133 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ConocoPhillips by 0.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,473,796 shares of the energy producer’s stock valued at $383,832,000 after buying an additional 60,121 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of ConocoPhillips by 35.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,665,128 shares of the energy producer’s stock valued at $310,957,000 after buying an additional 1,490,618 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of ConocoPhillips by 0.7% in the 4th quarter. Bessemer Group Inc. now owns 4,927,160 shares of the energy producer’s stock valued at $270,452,000 after buying an additional 34,088 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

In other news, SVP Andrew D. Lundquist sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the sale, the senior vice president now owns 27,353 shares in the company, valued at approximately $1,612,732.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Janet Langford Kelly sold 64,184 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $70.00, for a total transaction of $4,492,880.00. Following the completion of the sale, the senior vice president now owns 105,395 shares of the company’s stock, valued at approximately $7,377,650. The disclosure for this sale can be found here. Insiders sold a total of 252,289 shares of company stock valued at $16,975,668 in the last 90 days. Company insiders own 0.88% of the company’s stock.

COP has been the topic of a number of recent analyst reports. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley increased their target price on shares of ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Piper Jaffray reaffirmed a “buy” rating and issued a $63.00 target price on shares of ConocoPhillips in a research report on Wednesday, January 24th. Barclays increased their target price on shares of ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Citigroup increased their target price on shares of ConocoPhillips from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.50.

Shares of ConocoPhillips stock opened at $70.66 on Friday. ConocoPhillips has a 1 year low of $69.10 and a 1 year high of $70.19. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. The firm has a market cap of $81.73 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The company had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.68 billion. During the same period last year, the firm posted ($0.02) EPS. research analysts forecast that ConocoPhillips will post 3.6 EPS for the current year.

ConocoPhillips announced that its board has approved a stock buyback program on Thursday, February 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the energy producer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply