58,116 Shares in ConocoPhillips $COP Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 58,116 shares of the energy producer's stock, valued at approximately $6,042,000.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE purchased a new position in shares of ConocoPhillips during the second quarter valued at about $1,260,482,000. Primecap Management Co. CA purchased a new stake in shares of ConocoPhillips in the second quarter worth about $1,204,726,000. Legal & General Group Plc bought a new position in ConocoPhillips during the second quarter valued at approximately $716,151,000. Jupiter Topco LLC purchased a new position in ConocoPhillips during the 2nd quarter valued at approximately $427,954,000. Finally, Capital International Investors increased its stake in ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $129.57 on Friday. The firm has a market capitalization of $155.66 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.38 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.88. 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 stock has a 50 day moving average price of $116.97 and a 200 day moving average price of $118.48.

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, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the prior year, the business posted $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, sell-side analysts predict that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. BMO Capital Markets decreased their price objective on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Barclays reduced their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Mizuho lowered their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Raymond James Financial reiterated an "underperform" rating and set a $168.00 price objective on shares of ConocoPhillips in a research report on Monday. Finally, Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, May 18th. One investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.29.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips 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. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

About ConocoPhillips

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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