Key Financial Inc Increases Stake in ConocoPhillips (NYSE:COP)

Key Financial Inc raised its position in ConocoPhillips (NYSE:COP) by 21.6% during the second quarter, HoldingsChannel reports. The firm owned 564 shares of the energy producer’s stock after buying an additional 100 shares during the quarter. Key Financial Inc’s holdings in ConocoPhillips were worth $65,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COP. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $27,000. 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 valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC increased its position in shares of 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 purchasing an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $113.79 on Friday. The company has a market cap of $133.08 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. 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 company has a 50-day simple moving average of $111.68 and a 200-day simple moving average of $116.97.

ConocoPhillips (NYSE:COP) last issued its quarterly 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 business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared 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. The ex-dividend date is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Bank of America restated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Wolfe Research began coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.65.

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.