Farmers & Merchants Investments Inc. Acquires 240 Shares of ConocoPhillips (NYSE:COP)

Farmers & Merchants Investments Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,016 shares of the energy producer’s stock after purchasing an additional 240 shares during the period. Farmers & Merchants Investments Inc.’s holdings in ConocoPhillips were worth $12,126,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sachetta LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC grew its holdings in ConocoPhillips by 69.3% in the second 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 period. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.81 during midday trading on Friday, reaching $108.26. The company’s stock had a trading volume of 212,209 shares, compared to its average volume of 5,631,677. The stock has a market capitalization of $126.61 billion, a P/E ratio of 12.28, a PEG ratio of 0.85 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. The firm has a 50 day moving average price of $111.37 and a 200-day moving average price of $116.98. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18.

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 for 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 last year, the company posted $1.84 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips 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 value of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COP. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Susquehanna reduced their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday. Raymond James restated a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Wells Fargo & Company cut their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Barclays boosted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

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.