73,189 Shares in ConocoPhillips (NYSE:COP) Purchased by Allianz SE

Allianz SE purchased a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 73,189 shares of the energy producer’s stock, valued at approximately $7,106,000.

Several other hedge funds have also recently modified their holdings of the stock. Cornercap Investment Counsel Inc. lifted its stake in ConocoPhillips by 105.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 27,067 shares of the energy producer’s stock worth $2,684,000 after purchasing an additional 13,881 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its position in shares of ConocoPhillips by 6.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 13,168 shares of the energy producer’s stock valued at $1,306,000 after acquiring an additional 806 shares during the last quarter. Allstate Corp bought a new position in ConocoPhillips during the fourth quarter valued at $3,851,000. Brown Brothers Harriman & Co. increased its stake in ConocoPhillips by 29.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 7,253 shares of the energy producer’s stock worth $719,000 after acquiring an additional 1,637 shares during the last quarter. Finally, RiverFront Investment Group LLC boosted its holdings in shares of ConocoPhillips by 15.9% in the 4th quarter. RiverFront Investment Group LLC now owns 3,939 shares of the energy producer’s stock worth $391,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.4 %

Shares of COP opened at $102.37 on Friday. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The stock has a market cap of $130.26 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm’s fifty day moving average is $98.95 and its two-hundred day moving average is $103.28. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. cut their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

About ConocoPhillips

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.