TCW Group Inc. Has $3.43 Million Stake in ConocoPhillips (NYSE:COP)

TCW Group Inc. raised its position in ConocoPhillips (NYSE:COP) by 37.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,026 shares of the energy producer’s stock after acquiring an additional 8,231 shares during the quarter. TCW Group Inc.’s holdings in ConocoPhillips were worth $3,434,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in ConocoPhillips by 0.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after acquiring an additional 108,956 shares during the last quarter. Capital International Investors lifted its stake in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after acquiring an additional 826,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after acquiring an additional 270,859 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Susquehanna increased their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. UBS Group lowered their price target on shares of ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Scotiabank reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 0.0 %

COP traded down $0.05 during trading on Friday, hitting $111.18. The company’s stock had a trading volume of 3,819,194 shares, compared to its average volume of 5,710,891. The firm has a market capitalization of $130.03 billion, a P/E ratio of 12.59, a PEG ratio of 2.16 and a beta of 1.24. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $111.56 and its 200-day moving average price is $117.00.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.68 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

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.