The Manufacturers Life Insurance Company bought a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,816,143 shares of the energy producer’s stock, valued at approximately $188,807,000.
Several other hedge funds have also recently modified their holdings of the business. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of ConocoPhillips during the second quarter valued at $158,000. Van Hulzen Asset Management LLC bought a new stake in ConocoPhillips in the 2nd quarter worth about $841,000. Peak Asset Management LLC bought a new stake in ConocoPhillips in the 2nd quarter worth about $7,837,000. Fiduciary Financial Advisors purchased a new position in ConocoPhillips in the 2nd quarter worth about $162,000. Finally, Manning & Napier Advisors LLC purchased a new position in ConocoPhillips in the 2nd quarter worth about $10,776,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Insider Transactions at ConocoPhillips
In other news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Read Our Latest Report on ConocoPhillips
ConocoPhillips Stock Performance
Shares of NYSE COP opened at $133.37 on Tuesday. The company has a market cap of $160.22 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.43 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The firm’s fifty day moving average is $115.73 and its two-hundred day moving average is $117.97.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 10.46 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s payout ratio is presently 44.44%.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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