ConocoPhillips (NYSE:COP) Position Increased by Csenge Advisory Group

Csenge Advisory Group lifted its holdings in ConocoPhillips (NYSE:COP) by 25.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,801 shares of the energy producer’s stock after buying an additional 1,601 shares during the quarter. Csenge Advisory Group’s holdings in ConocoPhillips were worth $892,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Valued Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 45.8% during 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 during the last quarter. Astoria Portfolio Advisors LLC. grew its stake in ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC increased its position in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after buying an additional 86 shares during the period. Adirondack Trust Co. lifted its stake in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $108.28 on Friday. The firm has a market capitalization of $126.64 billion, a P/E ratio of 12.26, a PEG ratio of 2.14 and a beta of 1.24. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average of $111.96 and a 200-day moving average of $117.00.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.73 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Susquehanna boosted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $143.53.

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.