Port Capital LLC Invests $400,000 in ConocoPhillips $COP

Port Capital LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,848 shares of the energy producer’s stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Frazier Financial Advisors LLC increased its position in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the 4th quarter worth about $25,000. Ballast Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth about $36,000. Evergreen Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at about $36,000. Finally, Allied Private Wealth LLC purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $32,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on 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 directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COP. Raymond James Financial restated an “underperform” rating and issued a $168.00 price objective on shares of ConocoPhillips in a research note on Monday. Barclays dropped their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Morgan Stanley raised their price target on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Argus lifted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $130.79 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The firm has a market capitalization of $157.12 billion, a PE ratio of 17.30, a P/E/G ratio of 1.39 and a beta of 0.11. The business’s 50 day moving average price is $116.53 and its 200-day moving average price is $118.32.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. As a group, equities research analysts expect that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

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.