ConocoPhillips (COP) Stake Lifted by Arrow Financial Corp

Arrow Financial Corp grew its holdings in ConocoPhillips (NYSE:COP) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,894 shares of the energy producer’s stock after purchasing an additional 1,695 shares during the quarter. Arrow Financial Corp’s holdings in ConocoPhillips were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in COP. Pineno Levin & Ford Asset Management Inc. raised its stake in ConocoPhillips by 0.4% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock worth $2,357,000 after buying an additional 150 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in ConocoPhillips by 5.3% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,847 shares of the energy producer’s stock worth $240,000 after buying an additional 192 shares during the period. Arlington Partners LLC raised its stake in ConocoPhillips by 28.6% during the 4th quarter. Arlington Partners LLC now owns 900 shares of the energy producer’s stock worth $56,000 after buying an additional 200 shares during the period. Radnor Capital Management LLC raised its stake in ConocoPhillips by 1.3% during the 4th quarter. Radnor Capital Management LLC now owns 15,774 shares of the energy producer’s stock worth $984,000 after buying an additional 200 shares during the period. Finally, Palisade Asset Management LLC raised its stake in ConocoPhillips by 1.0% during the 4th quarter. Palisade Asset Management LLC now owns 20,996 shares of the energy producer’s stock worth $1,309,000 after buying an additional 200 shares during the period. 72.30% of the stock is currently owned by institutional investors.

Get ConocoPhillips alerts:

Shares of COP opened at $67.78 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.79 and a quick ratio of 1.66. The company has a market cap of $76.83 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 2.20 and a beta of 1.11. ConocoPhillips has a 52 week low of $52.54 and a 52 week high of $80.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.60 billion. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. During the same period in the previous year, the company posted $0.45 EPS. Analysts expect that ConocoPhillips will post 3.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Monday, February 11th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, February 8th. ConocoPhillips’s dividend payout ratio is currently 26.93%.

A number of research analysts recently weighed in on COP shares. Zacks Investment Research downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of ConocoPhillips in a research note on Tuesday. Mizuho set a $68.00 price target on ConocoPhillips and gave the stock a “hold” rating in a research note on Monday, December 3rd. Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Monday, October 29th. Finally, Morgan Stanley dropped their price target on ConocoPhillips from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $76.41.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4150143/conocophillips-cop-stake-lifted-by-arrow-financial-corp.html.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

See Also: What are different types of coverage ratios?

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).