ConocoPhillips (NYSE:COP) Shares Purchased by Courier Capital LLC

Courier Capital LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,378 shares of the energy producer’s stock after acquiring an additional 1,095 shares during the quarter. Courier Capital LLC’s holdings in ConocoPhillips were worth $2,145,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of COP. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Richardson Capital Management LLC acquired a new position in ConocoPhillips in the first quarter valued at $31,000. Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Valued Wealth Advisors LLC increased its stake in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after acquiring an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on COP shares. Barclays cut their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Trading Down 0.5 %

Shares of NYSE COP opened at $104.49 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $108.74 and its two-hundred day moving average price is $114.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock has a market capitalization of $121.34 billion, a P/E ratio of 11.65, a PEG ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (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 firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

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.