71,389 Shares in ConocoPhillips (NYSE:COP) Bought by Symmetry Investments LP

Symmetry Investments LP acquired a new stake in ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 71,389 shares of the energy producer’s stock, valued at approximately $8,165,000. ConocoPhillips accounts for about 0.9% of Symmetry Investments LP’s portfolio, making the stock its 26th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cooksen Wealth LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. lifted 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 valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC grew its position 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 acquiring an additional 104 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Finally, Northwest Bank & Trust Co bought a new stake in ConocoPhillips in the 4th quarter worth approximately $32,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $110.08 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The firm has a 50 day moving average of $109.76 and a two-hundred day moving average of $116.53. The firm has a market capitalization of $127.83 billion, a PE ratio of 12.47, a P/E/G ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its 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. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays boosted their target price on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Mizuho decreased their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Bank of America reissued a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.29.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the business’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 directly 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 can be accessed through this link. Company insiders own 0.34% of the company’s stock.

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.