Frank Rimerman Advisors LLC Buys 6,851 Shares of ConocoPhillips (NYSE:COP)

Frank Rimerman Advisors LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 18,028.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,889 shares of the energy producer’s stock after purchasing an additional 6,851 shares during the period. Frank Rimerman Advisors LLC’s holdings in ConocoPhillips were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in COP. Cooksen Wealth LLC bought a new stake in ConocoPhillips in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. raised 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 valued at $29,000 after buying an additional 121 shares in the last quarter. Stephens Consulting LLC grew 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 acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the first quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co bought a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Sanford C. Bernstein dropped their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Scotiabank decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Susquehanna decreased their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.29.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $109.69 on Tuesday. The company has a market capitalization of $127.38 billion, a PE ratio of 12.42, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a 50-day simple moving average of $109.66 and a two-hundred day simple moving average of $116.58. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. 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 (NYSE:COP) last posted its 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. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. Research 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. 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 2.12%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 $49,288,321.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips 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.