Cim Investment Management Inc. Acquires 6,380 Shares of ConocoPhillips $COP

Cim Investment Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 129.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,291 shares of the energy producer’s stock after buying an additional 6,380 shares during the quarter. Cim Investment Management Inc.’s holdings in ConocoPhillips were worth $1,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of ConocoPhillips during the second quarter worth $6,896,000. Cetera Trust Company N.A bought a new position in ConocoPhillips in the second quarter valued at about $870,000. Nicholas Investment Partners LP bought a new position in ConocoPhillips in the second quarter valued at about $6,498,000. Qsemble Capital Management LP acquired a new stake in ConocoPhillips in the second quarter worth about $3,645,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in ConocoPhillips during the 2nd quarter worth about $1,475,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

ConocoPhillips Trading Down 0.5%

Shares of NYSE:COP traded down $0.63 during mid-day trading on Tuesday, reaching $125.41. The stock had a trading volume of 7,276,273 shares, compared to its average volume of 8,223,630. The firm has a 50 day simple moving average of $127.73 and a two-hundred day simple moving average of $121.64. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. The firm has a market cap of $150.66 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.34 and a beta of 0.13. 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 (NYSE:COP) last issued 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 firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 10.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Raymond James Financial reissued an “underperform” rating and set a $168.00 price target on shares of ConocoPhillips in a research note on Monday, August 24th. Barclays cut their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Susquehanna raised their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus started coverage on shares of ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.24.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.