ConocoPhillips (NYSE:COP) Shares Purchased by LRI Investments LLC

LRI Investments LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 587.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,122 shares of the energy producer’s stock after buying an additional 2,668 shares during the quarter. LRI Investments LLC’s holdings in ConocoPhillips were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter worth about $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. grew its position in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 1.3 %

Shares of NYSE COP opened at $111.40 on Friday. The stock has a market capitalization of $130.29 billion, a PE ratio of 12.62, a P/E/G ratio of 2.22 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $111.42 and a 200-day moving average of $116.98. ConocoPhillips has a 52-week low of $102.27 and a 52-week 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 (EPS) 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 the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COP. Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group lifted their price target on shares of ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Wolfe Research assumed coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.65.

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.