Hudson Edge Investment Partners Inc. Has $5.78 Million Holdings in ConocoPhillips (NYSE:COP)

Hudson Edge Investment Partners Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,552 shares of the energy producer’s stock after acquiring an additional 2,804 shares during the quarter. ConocoPhillips makes up approximately 1.1% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 28th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in ConocoPhillips were worth $5,782,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cooksen Wealth LLC bought a new position in ConocoPhillips in the 4th quarter valued at $27,000. Sachetta LLC bought a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Richardson Capital Management LLC acquired a new stake in ConocoPhillips in the first quarter worth about $31,000. Cape Investment Advisory Inc. increased its position in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. lifted its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on 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 owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Raymond James reiterated a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Truist Financial reduced their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Susquehanna dropped their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Down 1.3 %

Shares of NYSE:COP traded down $1.43 during midday trading on Friday, reaching $106.02. 5,229,946 shares of the company were exchanged, compared to its average volume of 5,660,849. The firm has a market cap of $123.99 billion, a PE ratio of 12.01, a P/E/G ratio of 0.85 and a beta of 1.22. 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 fifty-two week low of $102.27 and a fifty-two week high of $135.18. The stock has a fifty day simple moving average of $111.20 and a two-hundred day simple moving average of $117.00.

ConocoPhillips (NYSE:COP) last issued 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 company 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%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.