Cooke & Bieler LP Has $183.46 Million Position in ConocoPhillips (NYSE:COP)

Cooke & Bieler LP lifted its stake in ConocoPhillips (NYSE:COP) by 10.9% during the second quarter, HoldingsChannel reports. The fund owned 1,603,914 shares of the energy producer’s stock after purchasing an additional 158,117 shares during the quarter. ConocoPhillips comprises approximately 1.8% of Cooke & Bieler LP’s holdings, making the stock its 17th biggest position. Cooke & Bieler LP’s holdings in ConocoPhillips were worth $183,456,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Valued Wealth Advisors LLC increased its position in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings 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 buying an additional 85 shares during the last quarter. Manchester Capital Management LLC raised its position in ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 86 shares in the last quarter. Adirondack Trust Co. lifted 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 valued at $336,000 after acquiring an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted 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 valued at $334,000 after acquiring an additional 90 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP traded up $0.05 during midday trading on Wednesday, hitting $109.90. The company had a trading volume of 2,123,263 shares, compared to its average volume of 5,639,562. The firm has a fifty day simple moving average of $111.60 and a two-hundred day simple moving average of $117.10. ConocoPhillips has a fifty-two week low of $102.27 and a fifty-two week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock has a market cap of $128.53 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.85 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business earned $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. UBS Group raised their price target on shares of ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Scotiabank cut their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Susquehanna decreased their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction 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 sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

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.