Excalibur Management Corp Increases Stock Holdings in ConocoPhillips (NYSE:COP)

Excalibur Management Corp raised its stake in ConocoPhillips (NYSE:COP) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,037 shares of the energy producer’s stock after purchasing an additional 96 shares during the period. Excalibur Management Corp’s holdings in ConocoPhillips were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. 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 boosted its stake in shares of 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 buying an additional 212 shares in 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 during the last quarter. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips during the second quarter worth $30,021,000. Finally, EP Wealth Advisors LLC raised its holdings in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.0 %

Shares of COP opened at $105.56 on Tuesday. The stock has a market cap of $122.58 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a 50-day moving average price of $110.03 and a two-hundred day moving average price of $116.69.

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, 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 company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Activity

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

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Mizuho cut their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company lowered their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Scotiabank lowered their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Finally, Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $143.06.

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.