South Texas Money Management Ltd. Boosts Position in ConocoPhillips (COP)

South Texas Money Management Ltd. increased its position in ConocoPhillips (NYSE:COP) by 18.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,990 shares of the energy producer’s stock after purchasing an additional 1,877 shares during the period. South Texas Money Management Ltd.’s holdings in ConocoPhillips were worth $800,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in ConocoPhillips by 54,716.8% in the third quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock valued at $947,125,000 after acquiring an additional 12,214,426 shares during the period. Norges Bank acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $738,471,000. Oregon Public Employees Retirement Fund boosted its stake in ConocoPhillips by 6,059.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,910,095 shares of the energy producer’s stock valued at $127,000 after acquiring an additional 7,781,667 shares during the period. Dimensional Fund Advisors LP boosted its stake in ConocoPhillips by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock valued at $710,012,000 after acquiring an additional 2,532,290 shares during the period. Finally, Morgan Stanley boosted its stake in ConocoPhillips by 30.0% in the third quarter. Morgan Stanley now owns 6,275,872 shares of the energy producer’s stock valued at $485,752,000 after acquiring an additional 1,449,736 shares during the period. Institutional investors and hedge funds own 73.59% of the company’s stock.

COP has been the subject of a number of research reports. Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Bank of America downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Friday, January 4th. Barclays restated a “buy” rating and issued a $79.00 target price on shares of ConocoPhillips in a research note on Friday, January 11th. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Finally, Piper Jaffray Companies upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $75.00 in a research note on Thursday, March 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.00.

COP opened at $65.90 on Friday. The company has a market cap of $75.26 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The company has a current ratio of 1.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.46. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.08. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 3.81 earnings per share for the current year.

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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 tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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