ConocoPhillips $COP Shares Acquired by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its stake in ConocoPhillips by 48.1% during the first quarter, acquiring an additional 3,890 shares worth approximately $1.26 million.
• Multiple hedge funds have modified their holdings in ConocoPhillips, with 82.36% of the stock owned by institutional investors and hedge funds.
• ConocoPhillips recently reported earnings of $1.42 per share, beating analyst estimates, and declared a quarterly dividend of $0.78 per share, representing an annual yield of 3.4%.

Advisors Capital Management LLC increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 48.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,980 shares of the energy producer's stock after acquiring an additional 3,890 shares during the period. Advisors Capital Management LLC's holdings in ConocoPhillips were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $28,000. Financial Network Wealth Advisors LLC boosted its position 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 worth $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter worth approximately $31,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Wall Street Zen lowered shares of ConocoPhillips from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Raymond James Financial cut their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Citigroup cut their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, UBS Group raised their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

Insider Activity

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Trading Down 1.6%

COP opened at $92.60 on Friday. The firm has a market capitalization of $115.65 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.48 and a beta of 0.69. The firm's 50 day moving average is $94.75 and its 200-day moving average is $92.98. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's dividend payout ratio (DPR) 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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