ConocoPhillips (NYSE:COP) Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its position in ConocoPhillips (NYSE:COP) by 16.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,228 shares of the energy producer’s stock after acquiring an additional 30,242 shares during the quarter. Ninety One UK Ltd’s holdings in ConocoPhillips were worth $23,931,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cardinal Capital Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $13,468,000. Harbor Investment Advisory LLC increased its stake in ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $30,021,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $2.76 during midday trading on Tuesday, hitting $108.98. The stock had a trading volume of 1,206,216 shares, compared to its average volume of 5,674,143. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $111.53 and a two-hundred day moving average price of $117.04. The company has a market capitalization of $126.55 billion, a PE ratio of 12.66, a P/E/G ratio of 2.18 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating 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 firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that ConocoPhillips will post 8.64 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.13%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analyst Weigh In

Several brokerages recently commented on COP. Scotiabank cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Wells Fargo & Company decreased their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Barclays raised their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Mizuho reduced their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.65.

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.