ConocoPhillips (NYSE:COP) Holdings Boosted by Kennedy Investment Group

Kennedy Investment Group raised its stake in ConocoPhillips (NYSE:COP) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,605 shares of the energy producer’s stock after acquiring an additional 759 shares during the period. Kennedy Investment Group’s holdings in ConocoPhillips were worth $590,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in COP. Stephens Consulting LLC increased its position 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 buying an additional 104 shares during the period. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $31,000. Ruedi Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the period. Valued Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the 2nd quarter valued at about $35,000. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.94.

ConocoPhillips Stock Down 0.1 %

ConocoPhillips stock traded down $0.06 during trading hours on Monday, hitting $105.61. The company had a trading volume of 1,743,310 shares, compared to its average volume of 5,907,612. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market capitalization of $122.64 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The firm’s fifty day moving average is $109.01 and its 200-day moving average is $114.67.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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 return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is presently 25.86%.

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.