Connors Investor Services Inc. Buys 301 Shares of ConocoPhillips (NYSE:COP)

Connors Investor Services Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 0.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 66,949 shares of the energy producer’s stock after purchasing an additional 301 shares during the quarter. Connors Investor Services Inc.’s holdings in ConocoPhillips were worth $7,658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Sachetta LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Richardson Capital Management LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $31,000. Cape Investment Advisory Inc. increased its stake in 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 in the last quarter. Finally, Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% in the first 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 period. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Up 2.0 %

Shares of NYSE:COP opened at $105.56 on Tuesday. The business’s 50-day moving average is $110.03 and its 200-day moving average is $116.69. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a market capitalization of $122.58 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

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, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Equities research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Bank of America reaffirmed a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Susquehanna lowered their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Scotiabank dropped their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.06.

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.