ConocoPhillips $COP Shares Acquired by Jacobi Capital Management LLC

Key Points

• Jacobi Capital Management LLC increased its stake in ConocoPhillips by 9.8%, owning 30,829 shares valued at $3.24 million after purchasing an additional 2,757 shares in the first quarter.
• ConocoPhillips reported a quarterly earnings per share of $1.42, beating the consensus estimate of $1.36, with a revenue of $14.94 billion for the quarter, up 4.3% from the previous year.
• The company announced a quarterly dividend of $0.78 per share, translating to an annualized dividend of $3.12 and a dividend yield of 3.3%.

Jacobi Capital Management LLC lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,829 shares of the energy producer's stock after buying an additional 2,757 shares during the quarter. Jacobi Capital Management LLC's holdings in ConocoPhillips were worth $3,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Triumph Capital Management grew its position in shares of ConocoPhillips by 6.7% during the fourth quarter. Triumph Capital Management now owns 2,364 shares of the energy producer's stock worth $234,000 after buying an additional 149 shares in the last quarter. Focus Partners Wealth grew its position in shares of ConocoPhillips by 29.5% during the fourth quarter. Focus Partners Wealth now owns 94,406 shares of the energy producer's stock worth $9,362,000 after buying an additional 21,505 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ConocoPhillips by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 164,252 shares of the energy producer's stock valued at $16,287,000 after purchasing an additional 29,989 shares in the last quarter. Obermeyer Wealth Partners acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $322,000. Finally, Northeast Financial Consultants Inc boosted its holdings in ConocoPhillips by 2.9% in the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock valued at $432,000 after purchasing an additional 122 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

COP stock opened at $94.20 on Thursday. The company has a market capitalization of $117.65 billion, a P/E ratio of 12.64, a PEG ratio of 2.42 and a beta of 0.69. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The business has a 50 day simple moving average of $94.78 and a 200-day simple moving average of $93.04. 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 posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current 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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 41.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Susquehanna lowered their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Finally, Melius began coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.86.

About ConocoPhillips

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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