ORG Partners LLC Grows Holdings in ConocoPhillips (NYSE:COP)

ORG Partners LLC grew its holdings in ConocoPhillips (NYSE:COP) by 17,969.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,047 shares of the energy producer’s stock after purchasing an additional 7,008 shares during the quarter. ORG Partners LLC’s holdings in ConocoPhillips were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of COP. Cardinal Capital Management Inc. purchased a new position in ConocoPhillips during the 4th quarter worth $13,468,000. Harbor Investment Advisory LLC raised its holdings in shares of ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after acquiring an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after buying an additional 1,390 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth $30,021,000. Finally, Quotient Wealth Partners LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at about $5,594,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COP. UBS Group reduced their target price on shares of ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Mizuho lowered their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Scotiabank cut their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $143.53.

ConocoPhillips Trading Up 0.7 %

Shares of COP traded up $0.72 during trading hours on Thursday, reaching $110.05. 598,335 shares of the company traded hands, compared to its average volume of 5,686,580. The firm has a market cap of $127.80 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.16 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 current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $111.59 and its 200 day moving average price is $117.02.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.68 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips’s payout ratio is currently 26.27%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

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.