ConocoPhillips (NYSE:COP) Shares Purchased by MCF Advisors LLC

MCF Advisors LLC raised its stake in ConocoPhillips (NYSE:COP) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,814 shares of the energy producer’s stock after acquiring an additional 233 shares during the quarter. MCF Advisors LLC’s holdings in ConocoPhillips were worth $322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hamel Associates Inc. increased its stake in ConocoPhillips by 0.6% in the second quarter. Hamel Associates Inc. now owns 88,943 shares of the energy producer’s stock valued at $10,173,000 after purchasing an additional 517 shares during the last quarter. National Bank of Canada FI grew its holdings in ConocoPhillips by 52.1% in the 2nd quarter. National Bank of Canada FI now owns 635,585 shares of the energy producer’s stock valued at $72,684,000 after buying an additional 217,633 shares during the period. SouthState Corp increased its stake in shares of ConocoPhillips by 6.5% during the 2nd quarter. SouthState Corp now owns 4,928 shares of the energy producer’s stock valued at $564,000 after acquiring an additional 300 shares during the last quarter. Impact Partnership Wealth LLC lifted its holdings in shares of ConocoPhillips by 108.1% during the 2nd quarter. Impact Partnership Wealth LLC now owns 13,408 shares of the energy producer’s stock worth $1,534,000 after acquiring an additional 6,964 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of ConocoPhillips by 8.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 2,048 shares of the energy producer’s stock worth $234,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.0 %

COP stock opened at $107.45 on Friday. 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 firm has a 50 day simple moving average of $111.37 and a 200-day simple moving average of $116.98. The company has a market capitalization of $124.78 billion, a P/E ratio of 12.17, a PEG ratio of 0.85 and a beta of 1.22. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18.

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

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.16%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Buying and Selling

In related 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 directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on COP shares. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Scotiabank cut their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Barclays increased their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Susquehanna decreased their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.