Planning Project LLC Makes New Investment in ConocoPhillips $COP

Key Points

• Planning Project LLC acquired 13,760 ConocoPhillips shares worth approximately $1.43 million in the second quarter, making COP its 16th-largest holding and representing 0.3% of its portfolio. Institutional investors collectively own 82.36% of the company.
• Analyst sentiment is positive, with ConocoPhillips receiving an average “Moderate Buy” rating and a consensus price target of $140.29; several firms recently raised targets or upgraded the stock.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS and $19.52 billion in revenue, up 32.4% year over year. The company also pays a quarterly dividend of $0.84 per share, equivalent to a 2.5% annual yield.

Planning Project LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,760 shares of the energy producer's stock, valued at approximately $1,430,000. ConocoPhillips comprises 0.3% of Planning Project LLC's portfolio, making the stock its 16th biggest position.

A number of other hedge funds have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $25,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC raised its stake in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth $32,000. Finally, BNP Paribas purchased a new stake in ConocoPhillips in the second quarter valued at $33,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Roth Capital upgraded shares of ConocoPhillips from a "neutral" rating to a "buy" rating and upped their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Seaport Research Partners began coverage on ConocoPhillips in a research report on Thursday. They set a "neutral" rating on the stock. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company upped their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Stock Down 0.0%

Shares of NYSE:COP opened at $134.23 on Monday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $137.42. 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 stock has a market cap of $161.26 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.41 and a beta of 0.13. The firm has a fifty day moving average price of $120.15 and a 200 day moving average price of $119.49.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the business posted $1.42 earnings per share. ConocoPhillips's quarterly revenue was up 32.4% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction dated 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 owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

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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