Northwestern Mutual Investment Management Company LLC Grows Stake in ConocoPhillips (NYSE:COP)

Northwestern Mutual Investment Management Company LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 34.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,187 shares of the energy producer’s stock after purchasing an additional 14,564 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in ConocoPhillips were worth $1,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. RR Advisors LLC grew its position in ConocoPhillips by 35.0% in the first quarter. RR Advisors LLC now owns 27,000 shares of the energy producer’s stock worth $847,000 after acquiring an additional 7,000 shares in the last quarter. AGF Investments Inc. grew its position in ConocoPhillips by 169.1% in the first quarter. AGF Investments Inc. now owns 47,780 shares of the energy producer’s stock worth $1,472,000 after acquiring an additional 30,027 shares in the last quarter. Trexquant Investment LP purchased a new position in ConocoPhillips in the first quarter worth $215,000. Hancock Whitney Corp grew its position in ConocoPhillips by 60.6% in the first quarter. Hancock Whitney Corp now owns 191,825 shares of the energy producer’s stock worth $5,908,000 after acquiring an additional 72,381 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in ConocoPhillips by 4,735.7% in the first quarter. Alberta Investment Management Corp now owns 338,500 shares of the energy producer’s stock worth $10,426,000 after acquiring an additional 331,500 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

In related news, Director David Thomas Seaton purchased 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $41.03 per share, with a total value of $98,472.00. Following the completion of the purchase, the director now directly owns 2,500 shares in the company, valued at $102,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

Several research analysts recently issued reports on the stock. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $46.00 in a research report on Friday, May 1st. They noted that the move was a valuation call. Wells Fargo & Co upped their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Raymond James cut their target price on shares of ConocoPhillips from $63.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Morgan Stanley cut their price target on shares of ConocoPhillips from $79.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, Argus upped their price target on shares of ConocoPhillips from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $57.19.

COP stock opened at $43.28 on Friday. ConocoPhillips has a 1 year low of $20.84 and a 1 year high of $67.13. The company has a market cap of $46.89 billion, a P/E ratio of 13.57 and a beta of 1.71. The firm has a 50-day moving average of $37.56 and a 200 day moving average of $50.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 2.04.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.22. ConocoPhillips had a net margin of 11.51% and a return on equity of 10.02%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, equities research analysts expect that ConocoPhillips will post -1.32 earnings per share for the current fiscal year.

ConocoPhillips declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 4th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the energy producer to buy up to 15.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, May 8th. ConocoPhillips’s payout ratio is currently 46.80%.

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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