Sanctuary Advisors LLC Invests $29.20 Million in ConocoPhillips (NYSE:COP)

Sanctuary Advisors LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, Holdings Channel reports. The fund purchased 255,301 shares of the energy producer’s stock, valued at approximately $29,201,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. Stephens Consulting LLC grew its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC acquired a new position in ConocoPhillips in the 1st quarter worth about $31,000. Northwest Bank & Trust Co bought a new position in ConocoPhillips in the fourth quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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 approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COP. Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company lowered their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.82.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $109.38 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $108.68 and a two-hundred day moving average price of $116.13. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a market cap of $127.92 billion, a P/E ratio of 12.39, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.14 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.12%. ConocoPhillips’s dividend payout ratio is presently 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.