ConocoPhillips $COP Shares Bought by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC increased its stake in ConocoPhillips by 27.5% during Q2, owning a total of 12,535 shares valued at approximately $1.13 million.
• Several large investors significantly boosted their positions in ConocoPhillips, with Charles Schwab raising its stake by 379.7% and institutional investors collectively owning 82.36% of the stock.
• ConocoPhillips reported earnings of $1.42 EPS for the last quarter, exceeding analysts' expectations, and recently paid a quarterly dividend yielding 3.3% annually.

Mattern Capital Management LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,535 shares of the energy producer's stock after purchasing an additional 2,702 shares during the quarter. Mattern Capital Management LLC's holdings in ConocoPhillips were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. increased its stake in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at approximately $658,981,000. AQR Capital Management LLC increased its stake in shares of ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock valued at $484,539,000 after acquiring an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer's stock valued at $550,334,000 after acquiring an additional 1,834,118 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Down 2.1%

ConocoPhillips stock opened at $93.45 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $116.71 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The firm's 50 day moving average price is $94.94 and its two-hundred day moving average price is $92.96.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business posted $1.98 EPS. The company's revenue was up 4.3% on a year-over-year basis. On average, research analysts predict 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. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

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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