Axa S.A. Raises Stake in ConocoPhillips (NYSE:COP)

Axa S.A. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,046 shares of the energy producer’s stock after acquiring an additional 2,116 shares during the period. Axa S.A.’s holdings in ConocoPhillips were worth $3,665,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Cooksen Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter worth about $27,000. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the first quarter worth about $31,000. Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the fourth quarter worth about $32,000. Finally, Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COP. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Bank of America reaffirmed a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna reduced their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $141.24.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly 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 the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $104.72 on Monday. The firm has a 50 day moving average of $108.85 and a 200 day moving average of $116.31. 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 firm has a market capitalization of $122.47 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share. On average, research analysts anticipate 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. Shareholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. ConocoPhillips’s payout ratio is currently 26.27%.

ConocoPhillips Company 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.