King Luther Capital Management Corp Buys 64,921 Shares of ConocoPhillips (NYSE:COP)

King Luther Capital Management Corp grew its stake in ConocoPhillips (NYSE:COP) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,259,906 shares of the energy producer’s stock after purchasing an additional 64,921 shares during the period. ConocoPhillips makes up about 1.2% of King Luther Capital Management Corp’s portfolio, making the stock its 21st biggest position. King Luther Capital Management Corp owned about 0.19% of ConocoPhillips worth $258,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC purchased a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. grew its position in 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 acquiring an additional 121 shares during the last quarter. Stephens Consulting LLC increased its stake in 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 purchasing an additional 104 shares during the period. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter valued at $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COP. Barclays lifted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Mizuho lowered their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Five investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.29.

ConocoPhillips Stock Up 1.7 %

COP opened at $110.51 on Friday. The company has a fifty day moving average of $109.82 and a two-hundred day moving average of $116.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $129.25 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 8.41 earnings per share for the current 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

ConocoPhillips 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.