Kimelman & Baird LLC Invests $1.06 Million in ConocoPhillips (NYSE:COP)

Kimelman & Baird LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,250 shares of the energy producer’s stock, valued at approximately $1,058,000.

Other hedge funds have also bought and sold shares of the company. Valued Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. raised its holdings in shares of ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its position in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on COP shares. Scotiabank decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. UBS Group decreased their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Mizuho lowered their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $141.24.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 2.4 %

ConocoPhillips stock opened at $104.72 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market cap of $122.47 billion, a P/E ratio of 11.86, a PEG ratio of 0.85 and a beta of 1.22. The firm’s 50 day moving average price is $108.85 and its 200-day moving average price is $116.31. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.14 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 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.