ConocoPhillips $COP Shares Purchased by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC increased its holdings in ConocoPhillips by 12.5%, owning a total of 27,000 shares valued at approximately $2.4 million after acquiring an additional 3,000 shares.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, surpassing consensus estimates, with a revenue of $14.94 billion showing a year-over-year increase of 4.3%.
• The company declared a quarterly dividend of $0.78, yielding 3.4%, and maintaining a payout ratio of 41.88%.

Viking Fund Management LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,000 shares of the energy producer's stock after purchasing an additional 3,000 shares during the quarter. Viking Fund Management LLC's holdings in ConocoPhillips were worth $2,423,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its position in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips during the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

NYSE:COP traded up $0.19 during trading hours on Monday, reaching $92.11. 5,697,283 shares of the company's stock were exchanged, compared to its average volume of 7,927,985. The firm has a market capitalization of $115.04 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.42 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a 50-day moving average of $94.59 and a 200 day moving average of $92.97.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho lowered their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Scotiabank lifted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price on the stock. Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Finally, BMO Capital Markets lifted their target price on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.