Perbak Capital Partners LLP Makes New Investment in ConocoPhillips $COP

Key Points

• Perbak Capital Partners LLP made a new investment in ConocoPhillips, purchasing 3,531 shares valued at approximately $371,000 in the first quarter.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding estimates and achieving a year-over-year revenue increase of 4.3%.
• The recent quarterly dividend announced by ConocoPhillips will pay $0.78 per share, translating to an annualized yield of 3.1%.

Perbak Capital Partners LLP acquired a new position in ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,531 shares of the energy producer's stock, valued at approximately $371,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC boosted its position in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its position in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after buying an additional 30,000 shares during the last quarter. Aberdeen Group plc lifted its position in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock valued at $83,969,000 after buying an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC lifted its position in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after buying an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its position in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after buying an additional 54,900 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Roth Capital reaffirmed a "buy" rating on shares of ConocoPhillips in a research report on Wednesday. Raymond James Financial upped their price target on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $2.80 during midday trading on Friday, reaching $92.97. 8,509,766 shares of the company traded hands, compared to its average volume of 6,179,341. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The firm has a market capitalization of $116.12 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69. The firm's fifty day moving average price is $94.76 and its two-hundred day moving average price is $93.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips's payout ratio is presently 41.88%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.