Hamilton Capital LLC Makes New $930,000 Investment in ConocoPhillips $COP

Key Points

• Hamilton Capital bought 8,949 ConocoPhillips shares worth approximately $930,000 during the second quarter. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive outlook, with ConocoPhillips receiving a “Moderate Buy” consensus rating and an average price target of $140.29.
• ConocoPhillips exceeded quarterly earnings expectations, reporting $3.24 in EPS and $19.52 billion in revenue, while declaring a quarterly dividend of $0.84 per share.

Hamilton Capital LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,949 shares of the energy producer's stock, valued at approximately $930,000.

Several other large investors have also recently modified their holdings of the stock. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after acquiring an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $25,000. Ballast Advisors LLC bought a new position in shares of ConocoPhillips in the first quarter worth approximately $36,000. Evergreen Advisors LLC purchased a new position in shares of ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. The Goldman Sachs Group dropped their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Barclays reduced their target price on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Argus raised their price target on ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. BMO Capital Markets reduced their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $129.57 on Friday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The firm's 50-day moving average is $116.97 and its 200 day moving average is $118.48. The stock has a market cap of $155.66 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.38 and a beta of 0.11. 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 released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The business 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%. ConocoPhillips's revenue was up 32.4% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS. Sell-side analysts anticipate that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips's payout ratio is presently 44.44%.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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