Sargent Investment Group LLC Purchases 2,304 Shares of ConocoPhillips (NYSE:COP)

Sargent Investment Group LLC increased its holdings in ConocoPhillips (NYSE:COP) by 27.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,548 shares of the energy producer’s stock after buying an additional 2,304 shares during the period. Sargent Investment Group LLC’s holdings in ConocoPhillips were worth $1,206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COP. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $27,000. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips during the 1st quarter valued at about $31,000. Hedge funds and other 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 company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COP. Wells Fargo & Company dropped their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday. UBS Group raised their target price on shares of ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Bank of America reaffirmed a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.06.

ConocoPhillips Trading Up 2.0 %

ConocoPhillips stock opened at $105.56 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $122.58 billion, a PE ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. The stock’s 50 day simple moving average is $110.03 and its two-hundred day simple moving average is $116.69. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last released 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. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. Analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.