Van Den Berg Management I Inc. Has $2.57 Million Stock Position in ConocoPhillips $COP

Key Points

• Van Den Berg Management I reduced its ConocoPhillips position by 40.7% in the second quarter, selling 17,001 shares and retaining 24,761 shares worth approximately $2.57 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $140.29 price target, although several firms recently lowered their targets.
• ConocoPhillips reported quarterly earnings of $3.24 per share, beating estimates, while revenue rose 32.4% year over year to $19.52 billion. The company also declared a quarterly dividend of $0.84 per share, yielding about 2.6% annually.

Van Den Berg Management I Inc. reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 40.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,761 shares of the energy producer's stock after selling 17,001 shares during the period. Van Den Berg Management I Inc.'s holdings in ConocoPhillips were worth $2,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the 4th quarter worth $25,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of ConocoPhillips in the second quarter worth about $32,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips in the second quarter worth about $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on COP shares. Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research note on Tuesday, July 7th. Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Raymond James Financial reiterated an "underperform" rating and set a $168.00 price target on shares of ConocoPhillips in a report on Monday, August 24th. Barclays reduced their price objective on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.29.

ConocoPhillips Stock Performance

COP opened at $130.46 on Friday. The stock has a market cap of $156.73 billion, a PE ratio of 17.26, a P/E/G ratio of 1.37 and a beta of 0.11. 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 has a 1 year low of $85.57 and a 1 year high of $135.88. The stock's 50 day simple moving average is $117.42 and its 200-day simple moving average is $118.56.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its 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. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period last year, the business earned $1.42 earnings per share. ConocoPhillips's quarterly revenue was up 32.4% compared to the same quarter last year. Sell-side analysts forecast that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips's dividend payout ratio is presently 44.44%.

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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