16,417 Shares in ConocoPhillips $COP Bought by Councilmark Asset Management LLC

Key Points

• Councilmark Asset Management acquired 16,417 ConocoPhillips shares worth approximately $1.7 million, making COP about 0.9% of its portfolio. Institutional investors and hedge funds collectively own 82.36% of the company.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus based on one Strong Buy, 17 Buy, seven Hold and two Sell ratings; the average price target is $140.29. ConocoPhillips also exceeded quarterly earnings expectations, reporting $3.24 EPS versus the $2.90 consensus.
• COP was recently trading at $131.84 and pays a quarterly dividend of $0.84, representing a 2.5% annualized yield. However, Senior Vice President Andrew Lundquist sold 9,487 shares for about $1.28 million, nearly halving his position.

Councilmark Asset Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,417 shares of the energy producer's stock, valued at approximately $1,707,000. ConocoPhillips makes up approximately 0.9% of Councilmark Asset Management LLC's investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. D.A. Davidson & CO. boosted its position in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock valued at $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,169,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $6,896,000. Jennison Associates LLC raised its stake in shares of ConocoPhillips by 7.6% during the 4th quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer's stock worth $14,345,000 after purchasing an additional 10,779 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of ConocoPhillips by 4.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,608,643 shares of the energy producer's stock valued at $252,256,000 after buying an additional 102,577 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Mizuho dropped their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Jefferies Financial Group boosted their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Wells Fargo & Company raised their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Raymond James Financial reaffirmed an "underperform" rating and set a $168.00 price target on shares of ConocoPhillips in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $140.29.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

COP opened at $131.84 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The business has a fifty day simple moving average of $116.14 and a 200 day simple moving average of $118.14. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The company has a market capitalization of $158.39 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company's quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 EPS. Research analysts expect that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips's payout ratio is 44.44%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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