Magnolia Capital Advisors LLC Takes $419,000 Position in ConocoPhillips $COP

Magnolia Capital Advisors LLC bought a new position in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,027 shares of the energy producer’s stock, valued at approximately $419,000.

Several other large investors have also recently added to or reduced their stakes in COP. Primecap Management Co. CA purchased a new position in shares of ConocoPhillips in the second quarter valued at $1,204,726,000. Legal & General Group Plc acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $716,151,000. Jupiter Topco LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $427,954,000. Capital International Investors increased its holdings in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares in the last quarter. Finally, BlackRock Inc. raised its position in ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after acquiring an additional 2,712,703 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Capital One Financial dropped their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. UBS Group raised their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Argus lifted their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial reissued an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

ConocoPhillips Stock Down 0.8%

Shares of NYSE COP opened at $130.79 on Thursday. The stock has a fifty day moving average price of $116.53 and a 200 day moving average price of $118.32. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88. The company has a market cap of $157.12 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.39 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.