Applied Finance Capital Management LLC Acquires 5,324 Shares of ConocoPhillips $COP

Key Points

• Applied Finance Capital Management LLC increased its holdings in ConocoPhillips by 4.6%, acquiring an additional 5,324 shares, bringing their total to 122,100 shares worth approximately $10.96 million.
• ConocoPhillips reported $1.42 earnings per share for the latest quarter, exceeding expectations and marking a 4.3% revenue increase year-over-year to $14.94 billion.
• The stock received mixed ratings from analysts, with seventeen analysts assigning a "Buy" rating and a consensus price target of $116.78, while individual targets ranged from $100 to $122.

Applied Finance Capital Management LLC grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,100 shares of the energy producer's stock after purchasing an additional 5,324 shares during the quarter. Applied Finance Capital Management LLC's holdings in ConocoPhillips were worth $10,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Activest Wealth Management increased its position in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter worth about $35,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Morgan Stanley lowered their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Capital One Financial boosted their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Scotiabank raised their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group lowered their price objective on ConocoPhillips from $129.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.78.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $86.83 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $108.45 billion, a P/E ratio of 11.66, a PEG ratio of 2.35 and a beta of 0.62. The business has a 50-day moving average of $94.19 and a 200-day moving average of $92.16. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips's dividend payout ratio is currently 41.88%.

ConocoPhillips Company Profile

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.

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