ConocoPhillips (NYSE:COP) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 82.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,946 shares of the energy producer’s stock after acquiring an additional 13,114 shares during the quarter. ConocoPhillips accounts for about 0.4% of Quest Partners LLC’s holdings, making the stock its 6th largest position. Quest Partners LLC’s holdings in ConocoPhillips were worth $3,311,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Valued Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after acquiring an additional 85 shares in the last quarter. Manchester Capital Management LLC boosted its position in ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares during the period. Adirondack Trust Co. grew its stake in ConocoPhillips by 3.1% during the 4th 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 in the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.3 %

NYSE COP opened at $106.02 on Monday. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. 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 stock has a market cap of $123.12 billion, a PE ratio of 12.01, a PEG ratio of 0.80 and a beta of 1.22. The firm has a 50-day simple moving average of $111.20 and a 200 day simple moving average of $117.02.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 EPS. On average, research analysts forecast that ConocoPhillips will post 8.42 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is 26.27%.

Analyst Ratings Changes

A number of research analysts recently commented on COP shares. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Scotiabank cut their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Transactions at ConocoPhillips

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

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.