ConocoPhillips (NYSE:COP) Shares Purchased by Searle & CO.

Searle & CO. increased its stake in shares of ConocoPhillips (NYSE:COP) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,527 shares of the energy producer’s stock after acquiring an additional 350 shares during the quarter. Searle & CO.’s holdings in ConocoPhillips were worth $1,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Sachetta LLC acquired a new stake in ConocoPhillips during the 4th quarter worth $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter worth $27,000. Cape Investment Advisory Inc. grew its position in ConocoPhillips by 96.0% during 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. Stephens Consulting LLC grew its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new position in ConocoPhillips during the 1st quarter worth $31,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.58 during trading hours on Friday, hitting $113.79. 5,559,473 shares of the stock were exchanged, compared to its average volume of 5,656,144. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The company’s 50 day moving average is $111.68 and its 200 day moving average is $116.97. 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 firm has a market capitalization of $133.08 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.22 and a beta of 1.24.

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, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for 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%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on COP shares. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Five 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.65.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated 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 sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

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.