Entropy Technologies LP Makes New $5.92 Million Investment in ConocoPhillips (NYSE:COP)

Key Points

• Entropy Technologies LP purchased 56,409 shares of ConocoPhillips, valued at approximately $5.92 million, indicating growing interest from institutional investors in the energy sector.
• ConocoPhillips reported earnings of $1.42 per share for the latest quarter, exceeding analysts' expectations of $1.36, along with an annual revenue growth of 4.3% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.78 per share, which reflects a dividend yield of 3.3% and a payout ratio of 39.64%.

Entropy Technologies LP acquired a new position in ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,409 shares of the energy producer's stock, valued at approximately $5,924,000.

Several other large investors have also recently bought and sold shares of COP. 10Elms LLP purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $28,000. Garde Capital Inc. purchased a new stake in ConocoPhillips during the 1st quarter worth about $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips during the 1st quarter worth about $37,000. Fourth Dimension Wealth LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 1.3%

ConocoPhillips stock traded up $1.23 during midday trading on Wednesday, hitting $95.82. 7,262,133 shares of the company were exchanged, compared to its average volume of 8,167,859. The company's fifty day moving average price is $93.04 and its 200-day moving average price is $93.54. The company has a market cap of $119.67 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's payout ratio is 41.88%.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on COP. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. UBS Group lifted their price objective on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Roth Capital reissued a "buy" rating and issued a $108.00 price target on shares of ConocoPhillips in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada decreased their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.84.

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.