ConocoPhillips $COP Shares Acquired by Edgar Lomax Co. VA

Key Points

• Edgar Lomax Co. VA increased its stake in ConocoPhillips by 18.8%, now owning over 201,000 shares worth approximately $21.14 million.
• ConocoPhillips reported earnings of $1.42 per share, exceeding estimates, with revenues of $14.94 billion for the last quarter, indicating a 4.3% year-over-year increase.
• The company announced a quarterly dividend of $0.78 per share, representing an annual yield of 3.3%, with a payout ratio of 41.88%.

Edgar Lomax Co. VA raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 18.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,285 shares of the energy producer's stock after purchasing an additional 31,815 shares during the quarter. Edgar Lomax Co. VA's holdings in ConocoPhillips were worth $21,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COP. Price T Rowe Associates Inc. MD boosted its holdings in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Northern Trust Corp boosted its holdings in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Finally, Capital World Investors boosted its holdings in ConocoPhillips by 0.3% during the fourth quarter. Capital World Investors now owns 8,653,331 shares of the energy producer's stock worth $858,150,000 after buying an additional 26,157 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $95.39 on Monday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The stock has a market cap of $119.14 billion, a P/E ratio of 12.80, a PEG ratio of 2.48 and a beta of 0.67. The company has a 50-day moving average price of $93.61 and a 200 day moving average price of $93.35. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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. The company had revenue of $14.94 billion during 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%. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America reduced their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Susquehanna reduced their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Finally, Barclays reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $120.84.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

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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