ConocoPhillips (NYSE:COP) Stock Position Lifted by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 29.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,545 shares of the energy producer’s stock after purchasing an additional 4,436 shares during the period. GAMMA Investing LLC’s holdings in ConocoPhillips were worth $2,236,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Park Place Capital Corp grew its holdings in ConocoPhillips by 31.3% during the 2nd quarter. Park Place Capital Corp now owns 2,650 shares of the energy producer’s stock worth $303,000 after acquiring an additional 632 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in ConocoPhillips by 35.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 12,944 shares of the energy producer’s stock worth $1,481,000 after buying an additional 3,419 shares during the period. Capital Market Strategies LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $222,000. Bright Futures Wealth Management LLC. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $463,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of ConocoPhillips by 54.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,433 shares of the energy producer’s stock valued at $182,000 after purchasing an additional 503 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Raymond James reiterated a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Barclays lifted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Finally, Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Five equities 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 stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Stock Down 2.4 %

Shares of NYSE:COP traded down $2.62 during trading on Friday, reaching $105.77. 7,445,068 shares of the stock were exchanged, compared to its average volume of 5,694,223. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. ConocoPhillips has a 1-year low of $103.98 and a 1-year high of $135.18. The stock has a fifty day moving average of $112.75 and a two-hundred day moving average of $117.16. The firm has a market cap of $123.70 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. Research analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

About ConocoPhillips

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.