Sawyer & Company Inc Purchases New Holdings in ConocoPhillips $COP

Key Points

• Sawyer & Company acquired 20,511 ConocoPhillips shares in the third quarter, valued at approximately $2.57 million. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $145.00, although individual ratings range from “Strong Buy” to “Sell.”
• ConocoPhillips reported quarterly EPS of $3.24, exceeding estimates, while revenue rose 32.4% year over year. The company also pays a quarterly dividend of $0.84, equivalent to a 2.3% yield.

Sawyer & Company Inc purchased a new position in ConocoPhillips (NYSE:COP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,511 shares of the energy producer's stock, valued at approximately $2,567,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. State Street Corp grew its position in shares of ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock worth $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock worth $9,760,436,000 after purchasing an additional 2,712,703 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock worth $1,566,901,000 after purchasing an additional 1,609,759 shares during the period. Bank of America Corp DE bought a new position in ConocoPhillips during the second quarter valued at $1,260,482,000. Finally, Primecap Management Co. CA purchased a new stake in ConocoPhillips in the 2nd quarter worth about $1,204,726,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Seaport Research Partners started coverage on ConocoPhillips in a research report on Thursday, September 3rd. They set a "neutral" rating for the company. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Raymond James Financial reaffirmed an "underperform" rating and issued a $168.00 price objective on shares of ConocoPhillips in a research note on Monday, August 24th. Barclays dropped their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Finally, UBS Group raised their target price on shares of ConocoPhillips from $153.00 to $169.00 and gave the company a "buy" rating in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $145.00.

ConocoPhillips Stock Down 0.3%

Shares of NYSE:COP traded down $0.45 on Wednesday, reaching $145.50. The company had a trading volume of 1,878,433 shares, compared to its average volume of 8,009,688. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $147.15. The firm's 50 day simple moving average is $132.96 and its 200-day simple moving average is $122.58. The firm has a market capitalization of $174.80 billion, a PE ratio of 19.26, a PEG ratio of 1.44 and a beta of 0.24. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate 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 return on equity of 14.72% and a net margin of 14.22%. The business's revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. As a group, analysts expect that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

ConocoPhillips Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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