Bradley Foster & Sargent Inc. CT Boosts Holdings in ConocoPhillips (NYSE:COP)

Bradley Foster & Sargent Inc. CT grew its position in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 611,035 shares of the energy producer’s stock after purchasing an additional 3,944 shares during the quarter. ConocoPhillips accounts for 1.3% of Bradley Foster & Sargent Inc. CT’s holdings, making the stock its 21st largest holding. Bradley Foster & Sargent Inc. CT’s holdings in ConocoPhillips were worth $69,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors boosted its stake in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after purchasing an additional 826,529 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after purchasing an additional 191,519 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of ConocoPhillips by 3.6% during the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after purchasing an additional 211,257 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 2.6 %

COP opened at $108.30 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $109.97 and its 200-day moving average is $116.64. The firm has a market capitalization of $125.76 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly 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 analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid 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 2.14%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.06.

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.