ConocoPhillips (NYSE:COP) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,125 shares of the energy producer’s stock after buying an additional 272 shares during the period. Lake Street Advisors Group LLC’s holdings in ConocoPhillips were worth $929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor OS LLC raised its holdings in ConocoPhillips by 9.1% during the second quarter. Advisor OS LLC now owns 3,517 shares of the energy producer’s stock worth $402,000 after purchasing an additional 293 shares in the last quarter. Savant Capital LLC raised its holdings in ConocoPhillips by 0.5% during the second quarter. Savant Capital LLC now owns 31,803 shares of the energy producer’s stock worth $3,638,000 after purchasing an additional 148 shares in the last quarter. Sustainable Insight Capital Management LLC bought a new stake in ConocoPhillips during the second quarter worth approximately $435,000. Fluent Financial LLC raised its holdings in ConocoPhillips by 100.0% during the second quarter. Fluent Financial LLC now owns 28,000 shares of the energy producer’s stock worth $3,203,000 after purchasing an additional 14,002 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in ConocoPhillips by 2.6% during the second quarter. Victory Capital Management Inc. now owns 1,447,308 shares of the energy producer’s stock worth $165,543,000 after purchasing an additional 37,237 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Barclays boosted their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada upped their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Mizuho dropped their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 1.3 %

ConocoPhillips stock opened at $106.02 on Friday. The company’s fifty day simple moving average is $111.20 and its 200-day simple moving average is $117.00. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The stock has a market cap of $123.99 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last posted its quarterly 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. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business 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 company posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 8.5 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.