Spring Capital Management LLC Invests $195,000 in ConocoPhillips (NYSE:COP)

Spring Capital Management LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,852 shares of the energy producer’s stock, valued at approximately $195,000. ConocoPhillips makes up about 0.1% of Spring Capital Management LLC’s portfolio, making the stock its 26th largest position.

Several other hedge funds have also modified their holdings of COP. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the period. Valued Wealth Advisors LLC raised its holdings in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the 2nd quarter valued at $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Stock Down 0.3 %

Shares of COP traded down $0.28 during midday trading on Wednesday, reaching $104.72. 170,629 shares of the stock were exchanged, compared to its average volume of 5,886,686. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. 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 company’s 50 day moving average is $108.84 and its two-hundred day moving average is $114.28. The company has a market capitalization of $121.61 billion, a P/E ratio of 11.70, a PEG ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted 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. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 25.86%.

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.