AlphaCrest Capital Management LLC Invests $537,000 in ConocoPhillips (NYSE:COP)

AlphaCrest Capital Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,812 shares of the energy producer’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital International Investors grew its position in ConocoPhillips by 26.8% during the first quarter. Capital International Investors now owns 80,245,103 shares of the energy producer’s stock worth $4,250,693,000 after buying an additional 16,936,808 shares during the period. Geode Capital Management LLC grew its position in ConocoPhillips by 24.3% during the first quarter. Geode Capital Management LLC now owns 20,292,498 shares of the energy producer’s stock worth $1,071,616,000 after buying an additional 3,965,622 shares during the period. Price T Rowe Associates Inc. MD grew its position in ConocoPhillips by 45.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,130,486 shares of the energy producer’s stock worth $1,066,312,000 after buying an additional 6,258,117 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of ConocoPhillips by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,697,687 shares of the energy producer’s stock valued at $1,043,388,000 after purchasing an additional 916,175 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of ConocoPhillips by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 18,862,637 shares of the energy producer’s stock valued at $999,154,000 after purchasing an additional 2,609,569 shares during the last quarter. Institutional investors own 78.47% of the company’s stock.

Several equities analysts recently issued reports on the stock. upped their price objective on shares of ConocoPhillips from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 1st. The Goldman Sachs Group downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $76.00 price objective on the stock. in a research note on Monday. Piper Sandler increased their price target on shares of ConocoPhillips from $69.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. Mizuho increased their price target on shares of ConocoPhillips from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Finally, Royal Bank of Canada increased their price target on shares of ConocoPhillips from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, July 1st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.23.

In other ConocoPhillips news, Director R A. Walker purchased 18,000 shares of ConocoPhillips stock in a transaction dated Monday, August 9th. The shares were bought at an average cost of $55.50 per share, for a total transaction of $999,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by company insiders.

Shares of COP stock opened at $73.23 on Thursday. The firm has a market cap of $98.06 billion, a P/E ratio of 63.13, a P/E/G ratio of 1.56 and a beta of 1.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.97. ConocoPhillips has a 1-year low of $27.53 and a 1-year high of $75.52. The firm has a fifty day moving average of $60.41 and a two-hundred day moving average of $57.66.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.17. The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same period last year, the business earned ($0.92) EPS. On average, sell-side analysts expect that ConocoPhillips will post 4.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Thursday, October 28th will be issued a dividend of $0.46 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, October 27th. ConocoPhillips’s dividend payout ratio (DPR) is currently -177.32%.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

Recommended Story: Momentum Indicators

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.