ConocoPhillips (NYSE:COP) Shares Acquired by Legacy Advisors LLC

Legacy Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,762 shares of the energy producer’s stock after acquiring an additional 105 shares during the quarter. Legacy Advisors LLC’s holdings in ConocoPhillips were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its holdings in 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 acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC lifted its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada upped their price objective on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Finally, Bank of America reissued a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Five investment 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. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $143.65.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.58 during midday trading on Friday, reaching $113.79. 5,559,473 shares of the company were exchanged, compared to its average volume of 5,656,144. The stock has a fifty day simple moving average of $111.73 and a 200 day simple moving average of $116.99. 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 market cap of $133.08 billion, a P/E ratio of 12.89, a PEG ratio of 2.22 and a beta of 1.24. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18.

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. On average, research analysts forecast that ConocoPhillips will post 8.64 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insiders Place Their Bets

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

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.