Jacobsen Capital Management Buys 111 Shares of ConocoPhillips (NYSE:COP)

Jacobsen Capital Management grew its stake in ConocoPhillips (NYSE:COP) by 5.4% during the third quarter, Holdings Channel.com reports. The fund owned 2,169 shares of the energy producer’s stock after purchasing an additional 111 shares during the quarter. Jacobsen Capital Management’s holdings in ConocoPhillips were worth $228,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. grew its stake in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% in 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. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Down 0.9 %

ConocoPhillips stock opened at $102.32 on Wednesday. The business’s 50-day simple moving average is $108.15 and its two-hundred day simple moving average is $113.27. The company has a market cap of $118.82 billion, a PE ratio of 11.41, a PEG ratio of 0.85 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. 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 (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 net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the firm posted $1.84 EPS. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 7.85 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 2.27%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Susquehanna decreased their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $136.94.

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.