Concurrent Investment Advisors LLC Has $6.31 Million Stake in ConocoPhillips (NYSE:COP)

Concurrent Investment Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 45.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,166 shares of the energy producer’s stock after buying an additional 17,188 shares during the period. Concurrent Investment Advisors LLC’s holdings in ConocoPhillips were worth $6,310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Valued Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its position in ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC lifted its stake in ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 86 shares in the last quarter. Adirondack Trust Co. boosted its position in ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after acquiring an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in shares of ConocoPhillips by 3.5% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.5 %

COP stock opened at $113.79 on Friday. The stock has a market cap of $133.08 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. The company has a fifty day moving average price of $111.73 and a two-hundred day moving average price of $117.04. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. 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 announced 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. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the business earned $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 8.5 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s 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 completion of 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada lifted their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note 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 given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.65.

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.