ConocoPhillips (NYSE:COP) Holdings Raised by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 25.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 615,172 shares of the energy producer’s stock after acquiring an additional 123,834 shares during the period. AQR Capital Management LLC owned 0.05% of ConocoPhillips worth $70,363,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Valued Wealth Advisors LLC increased its stake in 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. grew its holdings in shares of 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 period. Manchester Capital Management LLC increased its position in shares of 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 buying an additional 86 shares in the last quarter. Adirondack Trust Co. raised its stake 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 buying an additional 90 shares during the period. Finally, Mayfair Advisory Group LLC lifted its holdings in ConocoPhillips by 3.5% during the first 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. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP opened at $104.71 on Friday. The stock’s 50-day simple moving average is $108.85 and its 200 day simple moving average is $116.31. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. 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 company has a market cap of $121.59 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.86 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.14 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COP. Bank of America restated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Susquehanna lowered their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.24.

ConocoPhillips Company 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.