ConocoPhillips $COP Stake Raised by Triumph Capital Management

Key Points

• Triumph Capital Management increased its ConocoPhillips stake by 543.8% in the third quarter, bringing its holdings to 8,389 shares valued at approximately $1.05 million. Institutional investors and hedge funds own 82.36% of the stock.
• Analyst sentiment is broadly positive: ConocoPhillips has a consensus “Moderate Buy” rating and an average price target of $143.29, with several firms recently upgrading the stock or raising their targets.
• Shares rose 1.0% to $142.34, near the 52-week high, after the company reported quarterly earnings and revenue above estimates. ConocoPhillips also maintains a quarterly dividend of $0.84 per share, yielding about 2.4% annually.

Triumph Capital Management grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 543.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,389 shares of the energy producer's stock after acquiring an additional 7,086 shares during the period. Triumph Capital Management's holdings in ConocoPhillips were worth $1,050,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG purchased a new stake in ConocoPhillips during the 2nd quarter worth about $6,896,000. Qsemble Capital Management LP purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $3,645,000. Cetera Trust Company N.A purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $870,000. Nicholas Investment Partners LP acquired a new position in shares of ConocoPhillips during the second quarter worth about $6,498,000. Finally, Osmosis Investment Management UK Ltd acquired a new position in shares of ConocoPhillips during the second quarter worth about $1,475,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Wall Street Zen upgraded shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Seaport Research Partners began coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They issued a "neutral" rating for the company. Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, Zacks Research raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.29.

ConocoPhillips Stock Up 1.0%

Shares of NYSE COP traded up $1.44 during midday trading on Wednesday, hitting $142.34. 5,667,004 shares of the company's stock were exchanged, compared to its average volume of 8,073,596. The firm's fifty day simple moving average is $131.03 and its 200-day simple moving average is $122.22. The company has a market cap of $171.00 billion, a PE ratio of 18.83, a P/E/G ratio of 1.41 and a beta of 0.24. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $142.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the company posted $1.42 earnings per share. The firm's quarterly revenue was up 32.4% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 10.84 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips's payout ratio is currently 44.44%.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.