Game Creek Capital LP Has $1.05 Million Position in ConocoPhillips (NYSE:COP)

Game Creek Capital LP reduced its stake in ConocoPhillips (NYSE:COP – Get Rating) by 25.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,250 shares of the energy producer’s stock after selling 3,575 shares during the period. Game Creek Capital LP’s holdings in ConocoPhillips were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Cetera Investment Advisers lifted its position in ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares during the period. Baird Financial Group Inc. lifted its position in ConocoPhillips by 1.9% during the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after purchasing an additional 9,313 shares during the period. Zions Bancorporation N.A. lifted its position in ConocoPhillips by 59.1% during the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after purchasing an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in ConocoPhillips by 21.3% during the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 2,465 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COP shares. The Goldman Sachs Group upped their price objective on shares of ConocoPhillips from $128.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Wolfe Research downgraded ConocoPhillips from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Erste Group Bank raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, October 5th. Scotiabank downgraded ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $145.00 to $140.00 in a research note on Tuesday, January 17th. Finally, StockNews.com initiated coverage on ConocoPhillips in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.29.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $118.81 on Wednesday. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 0.53 and a beta of 1.29. ConocoPhillips has a 52-week low of $78.30 and a 52-week high of $138.49. The stock’s 50 day moving average price is $118.90 and its two-hundred day moving average price is $112.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.46.

ConocoPhillips (NYSE:COP – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The energy producer reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.19. ConocoPhillips had a return on equity of 35.02% and a net margin of 22.90%. The firm had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $17.05 billion. On average, equities analysts predict that ConocoPhillips will post 13.56 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, December 27th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, December 23rd. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.72%. ConocoPhillips’s dividend payout ratio (DPR) is currently 14.70%.

Insider Activity

In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total value of $1,477,155.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips news, Director Timothy A. Leach sold 4,860 shares of ConocoPhillips stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total transaction of $547,138.80. Following the completion of the sale, the director now directly owns 661,142 shares in the company, valued at $74,431,366.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $134.90, for a total transaction of $1,477,155.00. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.