Sava Infond d.o.o. Purchases 3,290 Shares of ConocoPhillips $COP

Key Points

• Sava Infond d.o.o. increased its holdings in ConocoPhillips by 49.4% in Q2, acquiring an additional 3,290 shares, bringing their total to 9,945 shares valued at approximately $892,000.
• ConocoPhillips reported earnings of $1.42 per share for the recent quarter, exceeding analyst expectations, and had quarterly revenues of $14.94 billion.
• The company declared a quarterly dividend of $0.78, resulting in an annualized dividend yield of 3.3% with a dividend payout ratio of 41.88%.

Sava Infond d.o.o. raised its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 49.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,945 shares of the energy producer's stock after acquiring an additional 3,290 shares during the period. Sava Infond d.o.o.'s holdings in ConocoPhillips were worth $892,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COP. Financial Network Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips in the first quarter valued at about $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the first quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock valued at $38,000 after buying an additional 293 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $94.17 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. The firm has a 50 day moving average of $94.92 and a 200-day moving average of $92.91. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COP. Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. BMO Capital Markets increased their target price on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Morgan Stanley reiterated an "overweight" rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target for the company. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of ConocoPhillips in a research note on Saturday, September 27th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.14.

ConocoPhillips Company Profile

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.

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