Continuum Advisory LLC Increases Stake in ConocoPhillips (NYSE:COP)

Continuum Advisory LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,093 shares of the energy producer’s stock after acquiring an additional 180 shares during the quarter. Continuum Advisory LLC’s holdings in ConocoPhillips were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of COP. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Sachetta LLC purchased a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter worth approximately $31,000. Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. raised its position in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Scotiabank dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Mizuho reduced their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Finally, Raymond James restated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.65.

ConocoPhillips Trading Down 0.8 %

COP stock traded down $0.88 during mid-day trading on Tuesday, reaching $110.86. 382,277 shares of the stock traded hands, compared to its average volume of 5,668,994. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The stock has a market capitalization of $128.74 billion, a PE ratio of 12.66, a PEG ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The business has a 50-day moving average price of $111.53 and a two-hundred day moving average price of $117.04.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the prior year, the firm posted $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 8.64 EPS for the current 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 given a dividend of $0.58 per share. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

ConocoPhillips 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.