ConocoPhillips $COP Stock Acquired by Baugh & Associates LLC

Key Points

• Baugh & Associates LLC more than doubled its ConocoPhillips position in the third quarter, acquiring 43,052 additional shares to hold 84,417 shares valued at approximately $11.6 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported quarterly earnings of $3.24 per share, exceeding the $2.90 analyst estimate, while revenue rose 32.4% year over year to $19.52 billion. The company also pays an annualized dividend of $3.36 per share, yielding about 2.3%.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $143.62. The stock recently opened at $146.43, near its 52-week high of $146.59.

Baugh & Associates LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 104.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,417 shares of the energy producer's stock after acquiring an additional 43,052 shares during the period. ConocoPhillips makes up approximately 4.0% of Baugh & Associates LLC's portfolio, making the stock its 7th largest position. Baugh & Associates LLC's holdings in ConocoPhillips were worth $11,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock valued at $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. Bank of America Corp DE bought a new position in ConocoPhillips in the second quarter worth approximately $1,260,482,000. Primecap Management Co. CA purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $1,204,726,000. Assenagon Asset Management S.A. boosted its stake in shares of ConocoPhillips by 1,181.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer's stock worth $1,022,787,000 after acquiring an additional 7,534,536 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $716,151,000. Institutional investors own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $146.43 on Friday. The company's 50-day moving average is $132.11 and its 200 day moving average is $122.44. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $146.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market capitalization of $175.92 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its 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. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business's revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. Research analysts forecast that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, Barclays decreased their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $143.62.

ConocoPhillips Company 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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

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.