Waverly Advisors LLC grew its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 5.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 68,452 shares of the energy producer’s stock after purchasing an additional 3,762 shares during the quarter. Waverly Advisors LLC’s holdings in ConocoPhillips were worth $7,116,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in ConocoPhillips by 10,228.2% during the second quarter. California State Teachers Retirement System now owns 147,873,744 shares of the energy producer’s stock valued at $15,372,954,000 after buying an additional 146,441,998 shares during the period. BlackRock Inc. increased its holdings in ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares during the last quarter. Capital International Investors raised its position in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Morgan Stanley lifted their target price on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Susquehanna boosted their price target on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Argus upped their price target on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, BMO Capital Markets decreased their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.29.
Insider Buying and Selling
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.
ConocoPhillips Price Performance
Shares of ConocoPhillips stock opened at $136.69 on Thursday. The stock’s 50-day simple moving average is $122.04 and its 200-day simple moving average is $120.02. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $137.87. The company has a market capitalization of $164.21 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.42 and a beta of 0.13.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 10.54 earnings per share for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.
ConocoPhillips Company Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.
Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.
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