Sustainable Insight Capital Management LLC Purchases New Position in ConocoPhillips (NYSE:COP)

Sustainable Insight Capital Management LLC acquired a new position in ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,800 shares of the energy producer’s stock, valued at approximately $435,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of ConocoPhillips by 20.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after acquiring an additional 1,644 shares in the last quarter. Gilbert & Cook Inc. boosted its position in ConocoPhillips by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock worth $1,560,000 after purchasing an additional 483 shares in the last quarter. Wealthspire Advisors LLC boosted its position in ConocoPhillips by 81.2% during the fourth quarter. Wealthspire Advisors LLC now owns 8,665 shares of the energy producer’s stock worth $1,006,000 after purchasing an additional 3,884 shares in the last quarter. Principal Securities Inc. acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $1,874,000. Finally, Berger Financial Group Inc purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $315,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $106.05 on Friday. The stock has a market cap of $124.03 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $111.20 and a 200-day simple moving average of $116.94. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 8.5 EPS 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 issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Sanford C. Bernstein dropped their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Mizuho reduced their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. UBS Group lifted their price objective on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’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 sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.