Point72 Hong Kong Ltd Takes $5.44 Million Position in ConocoPhillips (NYSE:COP)

Point72 Hong Kong Ltd purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 47,595 shares of the energy producer’s stock, valued at approximately $5,444,000.

Other hedge funds have also added to or reduced their stakes in the company. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% in the fourth 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 valued at $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC bought a new position in ConocoPhillips in the first quarter valued at about $31,000. Finally, Northwest Bank & Trust Co acquired a new position in ConocoPhillips during the fourth quarter worth about $32,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

COP stock opened at $108.95 on Wednesday. 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 firm has a market cap 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 company’s fifty day simple moving average is $109.54 and its 200 day simple moving average is $116.55. ConocoPhillips has a 12-month low of $101.29 and a 12-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, 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 company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 8.14 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COP shares. Susquehanna decreased their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Mizuho decreased their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Sanford C. Bernstein reduced their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.29.

Insider Activity at ConocoPhillips

In other ConocoPhillips 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 value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by corporate 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.