ConocoPhillips (NYSE:COP) is Point72 Asia Singapore Pte. Ltd.’s 7th Largest Position

Point72 Asia Singapore Pte. Ltd. grew its position in ConocoPhillips (NYSE:COP) by 643.3% during the second quarter, HoldingsChannel.com reports. The fund owned 89,670 shares of the energy producer’s stock after acquiring an additional 77,607 shares during the quarter. ConocoPhillips comprises 2.1% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 7th biggest position. Point72 Asia Singapore Pte. Ltd.’s holdings in ConocoPhillips were worth $10,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of ConocoPhillips by 5.8% during the 1st 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 buying an additional 826,529 shares in the last quarter. Fisher Asset Management LLC grew its position in ConocoPhillips by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after acquiring an additional 191,519 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in ConocoPhillips by 3.6% during the fourth quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after acquiring an additional 211,257 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.7 %

Shares of NYSE COP opened at $108.95 on Wednesday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The firm has a market capitalization of $126.52 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.86 and a beta of 1.22. The stock has a 50 day moving average price of $109.54 and a 200 day moving average price of $116.55. 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 released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.14 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 issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Sanford C. Bernstein cut their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Mizuho lowered their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Bank of America reaffirmed a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.29.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on 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 sale, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.