Park Place Capital Corp Grows Stake in ConocoPhillips (NYSE:COP)

Park Place Capital Corp raised its stake in ConocoPhillips (NYSE:COPFree Report) by 31.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,650 shares of the energy producer’s stock after purchasing an additional 632 shares during the quarter. Park Place Capital Corp’s holdings in ConocoPhillips were worth $303,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC increased its position in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its stake in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC grew its stake in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. grew its stake in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COP shares. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Mizuho reduced their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.06.

Get Our Latest Analysis on COP

ConocoPhillips Stock Performance

Shares of COP traded down $1.05 during trading hours on Monday, reaching $104.72. 4,799,958 shares of the company traded hands, compared to its average volume of 5,657,502. The stock’s fifty day moving average is $112.75 and its 200 day moving average is $117.16. The stock has a market cap of $122.47 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.33. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is presently 26.27%.

ConocoPhillips Profile

(Free Report)

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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