AMF Tjanstepension AB Purchases 453,731 Shares of ConocoPhillips (NYSE:COP)

AMF Tjanstepension AB grew its position in ConocoPhillips (NYSE:COP) by 22.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,440,806 shares of the energy producer’s stock after buying an additional 453,731 shares during the quarter. ConocoPhillips accounts for about 2.4% of AMF Tjanstepension AB’s portfolio, making the stock its 10th largest holding. AMF Tjanstepension AB owned about 0.21% of ConocoPhillips worth $310,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the third quarter worth about $27,000. West Branch Capital LLC boosted its position in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Finally, Cape Investment Advisory Inc. increased its holdings 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 buying an additional 121 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.4 %

COP traded up $0.41 during trading on Friday, hitting $114.38. The company’s stock had a trading volume of 7,191,744 shares, compared to its average volume of 5,700,099. The firm has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.02 and a beta of 1.22. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The stock’s fifty day moving average price is $118.30 and its 200-day moving average price is $117.53. 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 released 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. The company 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%. Analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COP. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Scotiabank raised their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

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.