ConocoPhillips (COP) Position Lifted by Rothschild & Co. Asset Management US Inc.

Rothschild & Co. Asset Management US Inc. increased its stake in ConocoPhillips (NYSE:COP) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 781,835 shares of the energy producer’s stock after buying an additional 40,773 shares during the period. ConocoPhillips accounts for about 0.6% of Rothschild & Co. Asset Management US Inc.’s portfolio, making the stock its 28th largest position. Rothschild & Co. Asset Management US Inc. owned 0.07% of ConocoPhillips worth $60,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. OLD National Bancorp IN grew its holdings in shares of ConocoPhillips by 16.7% in the second quarter. OLD National Bancorp IN now owns 20,426 shares of the energy producer’s stock valued at $1,422,000 after purchasing an additional 2,927 shares during the period. First Mercantile Trust Co. grew its holdings in shares of ConocoPhillips by 8.5% in the second quarter. First Mercantile Trust Co. now owns 18,350 shares of the energy producer’s stock valued at $1,277,000 after purchasing an additional 1,440 shares during the period. Murphy Capital Management Inc. grew its holdings in shares of ConocoPhillips by 11.8% in the second quarter. Murphy Capital Management Inc. now owns 13,905 shares of the energy producer’s stock valued at $968,000 after purchasing an additional 1,465 shares during the period. Sawgrass Asset Management LLC purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $298,000. Finally, Legacy Capital Partners Inc. grew its holdings in shares of ConocoPhillips by 12.2% in the second quarter. Legacy Capital Partners Inc. now owns 32,151 shares of the energy producer’s stock valued at $2,238,000 after purchasing an additional 3,500 shares during the period. 71.77% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on COP. Goldman Sachs Group lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. Citigroup upped their price objective on shares of ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, October 5th. Morgan Stanley lowered shares of ConocoPhillips to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Monday, October 8th. Finally, Royal Bank of Canada cut shares of ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 target price on the stock. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $75.37.

In other news, VP Glenda Mae Schwarz sold 18,882 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the sale, the vice president now owns 29,064 shares of the company’s stock, valued at $2,067,903.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

NYSE COP opened at $63.80 on Friday. ConocoPhillips has a 12 month low of $48.97 and a 12 month high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market capitalization of $75.38 billion, a price-to-earnings ratio of 106.33, a P/E/G ratio of 1.53 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.48 billion. As a group, analysts predict that ConocoPhillips will post 4.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, October 12th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s dividend payout ratio is currently 203.33%.

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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.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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