Hodges Capital Management Inc. Buys 334 Shares of ConocoPhillips (NYSE:COP)

Hodges Capital Management Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,250 shares of the energy producer’s stock after buying an additional 334 shares during the quarter. Hodges Capital Management Inc.’s holdings in ConocoPhillips were worth $3,918,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cooksen Wealth LLC bought a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Sachetta LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Cape Investment Advisory Inc. raised its position in ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction 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 sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock traded up $0.35 on Wednesday, hitting $110.20. 557,494 shares of the company’s stock were exchanged, compared to its average volume of 5,630,352. The company has a 50 day moving average of $111.60 and a 200 day moving average of $117.10. The stock has a market cap of $128.88 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COP shares. Mizuho decreased their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Royal Bank of Canada lifted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Finally, UBS Group raised their target price on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Five research 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips 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.