Summit Trail Advisors LLC Has $2.70 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 264.4% during the second quarter, Holdings Channel reports. The firm owned 23,587 shares of the energy producer’s stock after purchasing an additional 17,114 shares during the period. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $2,698,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter worth $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at about $31,000. Cape Investment Advisory Inc. boosted its holdings in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $110.08 on Friday. The firm has a market capitalization of $127.83 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The business’s 50-day moving average price is $109.76 and its 200-day moving average price is $116.53.

ConocoPhillips (NYSE:COP) last issued its 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. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 2.11%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips 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 sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. 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 analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.29.

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.