ConocoPhillips (NYSE:COP) Shares Bought by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. grew its position in ConocoPhillips (NYSE:COP) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,751 shares of the energy producer’s stock after acquiring an additional 100 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in ConocoPhillips were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Price T Rowe Associates Inc. MD raised its holdings in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Capital International Investors boosted its position in ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. Clearbridge Investments LLC grew its stake in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the 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 directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. 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 report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Scotiabank lowered their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $110.51 on Friday. The company has a market cap of $129.25 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. The business has a 50 day moving average price of $109.82 and a 200 day moving average price of $116.55. 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 twelve month low of $101.29 and a twelve month high of $135.18.

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. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. Research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.