AlphaGrep UK Ltd Makes New $1.01 Million Investment in ConocoPhillips $COP

AlphaGrep UK Ltd purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,735 shares of the energy producer's stock, valued at approximately $1,012,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips during the 4th quarter worth $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $28,000. Frazier Financial Advisors LLC grew its stake in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC bought a new position in ConocoPhillips during the second quarter worth about $32,000. Finally, BNP Paribas acquired a new stake in ConocoPhillips in the 2nd quarter worth about $33,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on COP shares. Capital One Financial cut their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Mizuho lowered their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets dropped their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Finally, UBS Group increased their price target on ConocoPhillips from $143.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.29.

ConocoPhillips Trading Down 1.1%

NYSE COP opened at $134.23 on Friday. The firm has a market capitalization of $161.26 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.13. The business's 50-day moving average price is $120.15 and its two-hundred day moving average price is $119.44. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $137.42.

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 during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business's quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. On average, analysts expect that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source