NewEdge Advisors LLC Acquires 1,517 Shares of ConocoPhillips (NYSE:COP)

NewEdge Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,887 shares of the energy producer’s stock after acquiring an additional 1,517 shares during the period. NewEdge Advisors LLC’s holdings in ConocoPhillips were worth $11,997,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 35.8% during the 1st 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 purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors lifted its stake 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 valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after acquiring an additional 438,241 shares in the last quarter. Fisher Asset Management LLC grew its position in ConocoPhillips by 2.7% during the 4th 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 during the last quarter. Finally, Putnam Investments LLC increased its holdings in ConocoPhillips by 3.6% in the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after purchasing an additional 211,257 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COP shares. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Mizuho cut their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.24.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $104.72 on Monday. The stock’s 50 day moving average price is $108.85 and its two-hundred day moving average price is $116.31. The stock has a market capitalization of $122.47 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.85 and a beta of 1.22. 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 has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the company posted $1.84 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 8.14 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.