2,938 Shares in ConocoPhillips (NYSE:COP) Bought by Keynote Financial Services LLC

Keynote Financial Services LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, Holdings Channel.com reports. The fund purchased 2,938 shares of the energy producer’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the 4th quarter worth $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $27,000. Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth about $31,000. Cape Investment Advisory Inc. increased its position in shares of ConocoPhillips by 96.0% in the 4th 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. Finally, Ruedi Wealth Management Inc. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COP. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.06.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $2.62 during midday trading on Friday, reaching $105.77. 7,445,068 shares of the stock traded hands, compared to its average volume of 5,694,223. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $112.75 and a two-hundred day moving average price of $117.10. The firm has a market cap of $123.70 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.14 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $103.98 and a fifty-two week high of $135.18.

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, missing analysts’ consensus estimates of $2.06 by ($0.08). ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is 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.