ConocoPhillips (NYSE:COP) Shares Purchased by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC increased its position in ConocoPhillips (NYSE:COP) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,581 shares of the energy producer’s stock after purchasing an additional 99 shares during the period. Greenwich Wealth Management LLC’s holdings in ConocoPhillips were worth $295,000 at the end of the most recent reporting period.

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

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 transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 0.6 %

Shares of NYSE:COP opened at $103.50 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock’s 50-day moving average is $110.16 and its 200-day moving average is $116.73. The company has a market cap of $121.05 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a 52-week low of $101.29 and a 52-week 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 the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the business posted $1.84 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Ratings Changes

A number of research analysts recently commented on COP shares. Mizuho lowered their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.