Bourgeon Capital Management LLC Increases Stake in ConocoPhillips (NYSE:COP)

Bourgeon Capital Management LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,694 shares of the energy producer’s stock after acquiring an additional 509 shares during the quarter. ConocoPhillips makes up 1.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 28th largest holding. Bourgeon Capital Management LLC’s holdings in ConocoPhillips were worth $8,895,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Canada Pension Plan Investment Board lifted its stake in shares of ConocoPhillips by 49.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 117,623 shares of the energy producer’s stock valued at $13,454,000 after buying an additional 39,016 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of ConocoPhillips by 135.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,378 shares of the energy producer’s stock valued at $1,645,000 after acquiring an additional 8,270 shares in the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of ConocoPhillips by 18,028.9% in the second quarter. Frank Rimerman Advisors LLC now owns 6,889 shares of the energy producer’s stock worth $788,000 after acquiring an additional 6,851 shares during the period. 1832 Asset Management L.P. grew its position in shares of ConocoPhillips by 3.1% during the second quarter. 1832 Asset Management L.P. now owns 53,008 shares of the energy producer’s stock worth $6,063,000 after purchasing an additional 1,576 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in ConocoPhillips by 3.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 19,452 shares of the energy producer’s stock worth $2,225,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $104.25 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a market capitalization of $119.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19. The firm’s 50-day moving average is $103.67 and its 200 day moving average is $107.31.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. Research analysts predict that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. 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 target price for the company. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $136.00.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

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.