Quantitative Investment Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 44,569 shares of the energy producer's stock, valued at approximately $4,633,000.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares during the last quarter. Capital International Investors boosted its stake in shares of ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock worth $1,566,901,000 after buying an additional 1,609,759 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock valued at $1,407,770,000 after buying an additional 648,432 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at ConocoPhillips
In related news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were 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 owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Barclays reduced their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Zacks Research downgraded ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. BMO Capital Markets reduced their price target on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Freedom Capital raised ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.29.
Get Our Latest Analysis on COP
ConocoPhillips Trading Up 0.1%
Shares of COP opened at $130.46 on Monday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.88. The firm has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.37 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock's fifty day simple moving average is $117.42 and its 200 day simple moving average is $118.63.
ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm's quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 10.55 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips's payout ratio is presently 44.44%.
ConocoPhillips Company Profile
(
Free Report)
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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