Cambridge Investment Research Advisors Inc. Has $21.47 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Cambridge Investment Research Advisors Inc. grew its position in ConocoPhillips (NYSE:COP) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,672 shares of the energy producer’s stock after purchasing an additional 1,623 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in ConocoPhillips were worth $21,466,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at approximately $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Cape Investment Advisory Inc. increased its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Richardson Capital Management LLC acquired a new position in ConocoPhillips during the 1st quarter valued at $31,000. Finally, Northwest Bank & Trust Co acquired a new stake in ConocoPhillips in the 4th quarter worth $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.0 %

COP stock traded down $1.13 during midday trading on Tuesday, hitting $112.43. 3,505,254 shares of the company’s stock were exchanged, compared to its average volume of 5,665,938. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $131.49 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The stock’s fifty day moving average price is $111.50 and its 200-day moving average price is $117.01.

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, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Research analysts predict that ConocoPhillips will post 8.64 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 2.06%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COP. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.65.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on 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 directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

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.