ConocoPhillips (NYSE:COP) Shares Purchased by Perpetual Ltd

by · The Markets Daily

Perpetual Ltd boosted its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 40.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,097 shares of the energy producer’s stock after acquiring an additional 4,609 shares during the quarter. Perpetual Ltd’s holdings in ConocoPhillips were worth $1,695,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COP. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Richardson Capital Management LLC acquired a new position in ConocoPhillips during the 1st quarter worth $31,000. Ruedi Wealth Management Inc. grew its stake in ConocoPhillips by 150.0% during the 1st 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. Stephens Consulting LLC increased its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Finally, Valued Wealth Advisors LLC raised its position in ConocoPhillips by 45.8% in the 1st 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. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP opened at $111.86 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $129.90 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.88 and a beta of 1.21. 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’s fifty day moving average is $108.89 and its two-hundred day moving average is $115.76.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results 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 net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the company 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, sell-side analysts predict that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 25.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COP shares. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America restated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.00.

Check Out Our Latest Stock Report on ConocoPhillips

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

(Free Report)

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.

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