ConocoPhillips (NYSE:COP) Stock Position Raised by TCW Group Inc.

TCW Group Inc. lifted its position in ConocoPhillips (NYSE:COP) by 37.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,026 shares of the energy producer’s stock after acquiring an additional 8,231 shares during the quarter. TCW Group Inc.’s holdings in ConocoPhillips were worth $3,434,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. CFM Wealth Partners LLC lifted its position in ConocoPhillips by 17.1% in the 2nd quarter. CFM Wealth Partners LLC now owns 13,696 shares of the energy producer’s stock worth $1,566,000 after buying an additional 2,003 shares in the last quarter. Tyche Wealth Partners LLC lifted its position in ConocoPhillips by 2.4% in the 2nd quarter. Tyche Wealth Partners LLC now owns 7,695 shares of the energy producer’s stock worth $880,000 after buying an additional 179 shares in the last quarter. Everpar Advisors LLC lifted its position in ConocoPhillips by 35.7% in the 2nd quarter. Everpar Advisors LLC now owns 4,406 shares of the energy producer’s stock worth $504,000 after buying an additional 1,159 shares in the last quarter. Gradient Investments LLC lifted its position in ConocoPhillips by 7.6% in the 2nd quarter. Gradient Investments LLC now owns 174,875 shares of the energy producer’s stock worth $20,002,000 after buying an additional 12,304 shares in the last quarter. Finally, Timber Creek Capital Management LLC lifted its position in ConocoPhillips by 4.0% in the 2nd quarter. Timber Creek Capital Management LLC now owns 45,625 shares of the energy producer’s stock worth $5,219,000 after buying an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Scotiabank dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. UBS Group dropped their price target on shares of ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Five 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 MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $143.53.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s 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 completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.05 during mid-day trading on Friday, reaching $111.18. The company had a trading volume of 3,819,194 shares, compared to its average volume of 5,710,891. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The company has a 50 day moving average of $111.56 and a 200-day moving average of $117.00. The firm has a market cap of $130.03 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.16 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. On average, sell-side analysts expect that ConocoPhillips will post 8.68 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

ConocoPhillips 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.