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

Oxbow Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% during the second quarter, HoldingsChannel reports. The fund owned 10,128 shares of the energy producer’s stock after buying an additional 340 shares during the period. Oxbow Advisors LLC’s holdings in ConocoPhillips were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cardinal Capital Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $13,468,000. Harbor Investment Advisory LLC grew its holdings in shares of ConocoPhillips by 2.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after acquiring an additional 212 shares during the period. First Trust Direct Indexing L.P. increased its stake in ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares in 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 boosted its position 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 in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.3 %

COP traded down $1.43 during midday trading on Friday, hitting $106.02. The company’s stock had a trading volume of 5,229,946 shares, compared to its average volume of 5,660,849. ConocoPhillips has a 52-week low of $102.27 and a 52-week high of $135.18. The firm has a 50-day moving average price of $111.20 and a two-hundred day moving average price of $116.94. 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 firm has a market cap of $123.99 billion, a P/E ratio of 12.01, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released 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 net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s payout ratio is 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. UBS Group upped their price target on shares of ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

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.