DRW Securities LLC Purchases 40,875 Shares of ConocoPhillips (NYSE:COP)

DRW Securities LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 1,565.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,486 shares of the energy producer’s stock after buying an additional 40,875 shares during the period. DRW Securities LLC’s holdings in ConocoPhillips were worth $4,974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COP. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. grew its position in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co bought a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction 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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Mizuho dropped their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.29.

ConocoPhillips Trading Down 0.6 %

NYSE COP opened at $109.87 on Friday. The company has a market cap of $127.59 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average is $109.76 and its 200 day moving average is $116.57.

ConocoPhillips (NYSE:COP) last announced 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 for the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the firm posted $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio 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.