ConocoPhillips (NYSE:COP) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its holdings in ConocoPhillips (NYSE:COP) by 444.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,484 shares of the energy producer’s stock after acquiring an additional 11,009 shares during the period. Edgestream Partners L.P.’s holdings in ConocoPhillips were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sachetta LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the fourth quarter worth $27,000. Cape Investment Advisory Inc. increased its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COP shares. Susquehanna reduced their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. UBS Group dropped their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James reissued a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.29.

ConocoPhillips Trading Up 1.7 %

Shares of COP opened at $110.51 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a market cap of $128.33 billion, a PE ratio of 12.52, a P/E/G ratio of 0.78 and a beta of 1.22. The stock’s 50-day moving average is $109.82 and its two-hundred day moving average is $116.55.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. Equities analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.