Mutual of America Capital Management LLC Acquires 12,798 Shares of ConocoPhillips (NYSE:COP)

Mutual of America Capital Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,914 shares of the energy producer’s stock after buying an additional 12,798 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ConocoPhillips were worth $20,579,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Scotiabank lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Five 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.06.

ConocoPhillips Stock Up 2.6 %

ConocoPhillips stock opened at $108.30 on Wednesday. The stock has a market cap of $125.76 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a fifty day moving average of $109.97 and a 200 day moving average of $116.64.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate 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.