TRU Independence Asset Management 2 LLC Makes New Investment in ConocoPhillips (NYSE:COP)

TRU Independence Asset Management 2 LLC bought a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,083 shares of the energy producer’s stock, valued at approximately $43,000.

A number of other hedge funds also recently modified their holdings of COP. Schroder Investment Management Group grew its stake in ConocoPhillips by 3,594.2% in the 4th quarter. Schroder Investment Management Group now owns 3,621,690 shares of the energy producer’s stock worth $144,832,000 after acquiring an additional 3,523,652 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ConocoPhillips by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 16,253,068 shares of the energy producer’s stock valued at $649,960,000 after purchasing an additional 3,057,307 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of ConocoPhillips by 176.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,646,509 shares of the energy producer’s stock valued at $185,816,000 after purchasing an additional 2,966,360 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of ConocoPhillips by 29.2% during the fourth quarter. Lazard Asset Management LLC now owns 12,819,227 shares of the energy producer’s stock valued at $512,639,000 after purchasing an additional 2,899,393 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of ConocoPhillips by 144.3% during the fourth quarter. Principal Financial Group Inc. now owns 4,291,780 shares of the energy producer’s stock valued at $171,628,000 after purchasing an additional 2,535,356 shares in the last quarter. Institutional investors and hedge funds own 72.87% of the company’s stock.

COP has been the subject of a number of research analyst reports. Barclays raised their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, January 14th. Evercore ISI initiated coverage on shares of ConocoPhillips in a research report on Thursday, December 17th. They set a $54.00 price target on the stock. Morgan Stanley raised their price target on shares of ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. Scotiabank upgraded shares of ConocoPhillips from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $45.00 to $56.00 in a research report on Thursday, January 14th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of ConocoPhillips from $39.00 to $50.00 in a research report on Wednesday, December 9th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $53.88.

COP stock opened at $52.38 on Thursday. The company has a fifty day moving average price of $54.01 and a 200 day moving average price of $42.67. ConocoPhillips has a 12 month low of $27.53 and a 12 month high of $61.14. The company has a market cap of $70.83 billion, a price-to-earnings ratio of -46.35, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.38 and a quick ratio of 2.16.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Monday, February 1st. The energy producer reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $4.69 billion. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same quarter in the prior year, the firm earned $0.76 EPS. As a group, analysts anticipate that ConocoPhillips will post -0.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.28%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.91%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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