Nisa Investment Advisors LLC Acquires 6,671 Shares of ConocoPhillips (NYSE:COP)

Nisa Investment Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 395,026 shares of the energy producer’s stock after buying an additional 6,671 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ConocoPhillips were worth $45,183,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in ConocoPhillips by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after purchasing an additional 108,956 shares in the last quarter. Capital International Investors raised its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after buying an additional 826,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Susquehanna increased their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group lowered their price objective on ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company dropped 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. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred 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 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 SEC, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Stock Up 0.8 %

Shares of NYSE:COP traded up $0.85 during mid-day trading on Monday, hitting $112.03. 3,129,346 shares of the company traded hands, compared to its average volume of 5,694,656. The firm’s 50 day simple moving average is $111.56 and its 200 day simple moving average is $117.04. The firm has a market cap of $130.09 billion, a P/E ratio of 12.72, a PEG ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 52-week low of $102.27 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The company 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 is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.07%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.