18,548 Shares in ConocoPhillips $COP Acquired by Permanens Capital L.P.

Permanens Capital L.P. bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,548 shares of the energy producer's stock, valued at approximately $1,928,000.

Several other institutional investors have also added to or reduced their stakes in COP. AXA S.A. grew its holdings in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock valued at $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. lifted its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock valued at $70,397,000 after buying an additional 44,852 shares in the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $151,000. Finally, Main Street Financial Solutions LLC increased its holdings in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock worth $431,000 after acquiring an additional 1,675 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the topic of several analyst reports. Zacks Research downgraded shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Barclays cut their target price on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Weiss Ratings raised ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. BMO Capital Markets lowered their price target on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley upped their price target on ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.29.

ConocoPhillips Trading Down 0.8%

Shares of ConocoPhillips stock opened at $130.79 on Thursday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The company has a market cap of $157.12 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The firm has a 50-day simple moving average of $116.53 and a two-hundred day simple moving average of $118.32.

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

ConocoPhillips Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips's payout ratio is currently 44.44%.

Insider Activity

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Company 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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