Broadleaf Partners LLC Purchases 33,927 Shares of ConocoPhillips (NYSE:COP)

Broadleaf Partners LLC raised its position in ConocoPhillips (NYSE:COPGet Rating) by 42.1% during the 4th quarter, HoldingsChannel reports. The fund owned 114,527 shares of the energy producer’s stock after buying an additional 33,927 shares during the quarter. ConocoPhillips comprises about 2.5% of Broadleaf Partners LLC’s portfolio, making the stock its 15th largest holding. Broadleaf Partners LLC’s holdings in ConocoPhillips were worth $8,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Eaton Vance Management raised its stake in shares of ConocoPhillips by 250.3% during the 3rd quarter. Eaton Vance Management now owns 1,933,095 shares of the energy producer’s stock worth $130,268,000 after purchasing an additional 1,381,331 shares in the last quarter. Capital World Investors raised its stake in shares of ConocoPhillips by 7.1% during the 3rd quarter. Capital World Investors now owns 19,853,204 shares of the energy producer’s stock worth $1,345,452,000 after purchasing an additional 1,324,230 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of ConocoPhillips by 2,896.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,331,669 shares of the energy producer’s stock worth $96,120,000 after purchasing an additional 1,287,232 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $91,672,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of ConocoPhillips by 6.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 20,451,758 shares of the energy producer’s stock worth $1,386,015,000 after purchasing an additional 1,168,903 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Tuesday, April 19th. Wells Fargo & Company increased their price target on ConocoPhillips from $114.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. The Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $101.00 in a research note on Tuesday, January 18th. KeyCorp increased their target price on shares of ConocoPhillips from $112.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. Finally, Barclays lifted their price target on shares of ConocoPhillips from $93.00 to $131.00 in a report on Friday, March 18th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $105.79.

In related news, EVP Nicholas G. Olds sold 19,600 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $99.95, for a total transaction of $1,959,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dominic E. Macklon sold 19,200 shares of the stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $91.13, for a total value of $1,749,696.00. The disclosure for this sale can be found here. Insiders have sold 167,800 shares of company stock valued at $15,730,870 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

ConocoPhillips stock traded down $0.40 during trading hours on Thursday, hitting $103.46. The stock had a trading volume of 541,334 shares, compared to its average volume of 6,546,369. ConocoPhillips has a one year low of $51.41 and a one year high of $107.52. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.41. The stock has a market cap of $134.09 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 0.35 and a beta of 1.36. The business’s 50 day simple moving average is $99.10 and its 200-day simple moving average is $85.80.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.74. ConocoPhillips had a return on equity of 18.08% and a net margin of 16.71%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue was up 82.7% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 14.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.78%. ConocoPhillips’s dividend payout ratio (DPR) is 37.62%.

About ConocoPhillips (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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