Mattson Financial Services LLC Invests $2.14 Million in ConocoPhillips (NYSE:COP)

Mattson Financial Services LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,729 shares of the energy producer’s stock, valued at approximately $2,142,000.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 35.8% during the first 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after purchasing an additional 3,127,165 shares during the last quarter. Capital International Investors increased its holdings in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. Clearbridge Investments LLC lifted its stake in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc boosted its holdings in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after acquiring an additional 712,062 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.9 %

Shares of COP opened at $110.36 on Thursday. The firm has a market cap of $128.16 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.82 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a 50 day simple moving average of $108.67 and a two-hundred day simple moving average of $116.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 8.12 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank cut their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $140.69.

Insider Buying and Selling

In related 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 value of $6,000,105.00. Following the transaction, the director now 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 the SEC website. 0.34% of the stock is owned by insiders.

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.