HBK Sorce Advisory LLC Buys 191 Shares of ConocoPhillips (NYSE:COP)

HBK Sorce Advisory LLC raised its stake in ConocoPhillips (NYSE:COP) by 1.2% during the second quarter, HoldingsChannel.com reports. The fund owned 16,240 shares of the energy producer’s stock after purchasing an additional 191 shares during the quarter. HBK Sorce Advisory LLC’s holdings in ConocoPhillips were worth $1,857,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips in the fourth quarter worth about $27,000. Sachetta LLC bought a new stake in ConocoPhillips in the 4th quarter worth approximately $27,000. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Cape Investment Advisory Inc. grew its holdings in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. increased its position in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’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 value 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 approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on COP shares. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday. Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $103.50 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm has a market cap of $120.19 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The firm’s 50 day simple moving average is $110.16 and its 200-day simple moving average is $116.67. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced 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 2.24%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

About ConocoPhillips

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.