Transamerica Financial Advisors LLC Makes New Investment in ConocoPhillips $COP

Key Points

• Transamerica Financial Advisors initiated a ConocoPhillips position of 15,015 shares worth approximately $1.56 million during the second quarter. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive view, with ConocoPhillips receiving a consensus “Moderate Buy” rating and an average price target of $140.29.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in earnings per share and $19.52 billion in revenue, while revenue rose 32.4% year over year. The company also announced a quarterly dividend of $0.84 per share, a 2.6% annualized yield.

Transamerica Financial Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,015 shares of the energy producer's stock, valued at approximately $1,561,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Frazier Financial Advisors LLC grew its holdings in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $25,000. Ballast Advisors LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter worth $36,000. Evergreen Advisors LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter worth $36,000. Finally, Allied Private Wealth LLC purchased a new position in ConocoPhillips during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Argus upped their target price on ConocoPhillips from $136.00 to $153.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Weiss Ratings raised ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. 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 report on Monday, June 22nd. Finally, Mizuho decreased their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. One equities 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.29.

ConocoPhillips Trading Down 0.8%

ConocoPhillips stock opened at $130.79 on Thursday. The stock has a 50-day moving average price of $116.53 and a 200 day moving average price of $118.32. The company has a market capitalization of $157.12 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.88. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 EPS. ConocoPhillips's quarterly revenue was up 32.4% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

About ConocoPhillips

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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