ConocoPhillips $COP Shares Acquired by Cardinal Capital Management

Key Points

• Cardinal Capital Management has increased its stake in ConocoPhillips by 3.3% during the second quarter, owning 89,255 shares valued at approximately $8 million.
• Recent analysts' ratings show a consensus of Moderate Buy for ConocoPhillips, with a target price ranging from $100 to $124 set by various firms.
• ConocoPhillips reported a quarterly earnings per share (EPS) of $1.42, surpassing analyst expectations and reflecting a 4.3% revenue increase year-over-year.

Cardinal Capital Management raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,255 shares of the energy producer's stock after buying an additional 2,888 shares during the quarter. ConocoPhillips comprises about 1.2% of Cardinal Capital Management's portfolio, making the stock its 28th biggest holding. Cardinal Capital Management's holdings in ConocoPhillips were worth $8,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Formidable Asset Management LLC lifted its holdings in shares of ConocoPhillips by 22.9% in the 4th quarter. Formidable Asset Management LLC now owns 3,385 shares of the energy producer's stock worth $336,000 after acquiring an additional 630 shares during the last quarter. Ameriflex Group Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $156,000. Integrated Advisors Network LLC lifted its stake in ConocoPhillips by 30.1% during the fourth quarter. Integrated Advisors Network LLC now owns 18,462 shares of the energy producer's stock worth $1,831,000 after purchasing an additional 4,271 shares in the last quarter. Armis Advisers LLC acquired a new position in ConocoPhillips during the fourth quarter worth $340,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in ConocoPhillips during the fourth quarter worth $255,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COP shares. Scotiabank increased their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Susquehanna reduced their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Raymond James Financial reduced their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. UBS Group increased their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price on the stock. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $92.11 on Tuesday. The company's fifty day moving average price is $94.55 and its 200 day moving average price is $92.98. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $115.04 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.42 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The business's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips's payout ratio is 41.88%.

ConocoPhillips 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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