Ieq Capital LLC Purchases 4,020 Shares of ConocoPhillips (NYSE:COP)

Ieq Capital LLC boosted its position in ConocoPhillips (NYSE:COP) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,773 shares of the energy producer’s stock after buying an additional 4,020 shares during the quarter. Ieq Capital LLC’s holdings in ConocoPhillips were worth $7,180,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $13,468,000. Harbor Investment Advisory LLC boosted its stake in shares of ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock worth $1,234,000 after buying an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of ConocoPhillips by 5.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after acquiring an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the 2nd quarter valued at about $30,021,000. Finally, EP Wealth Advisors LLC increased its position in shares of ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.4 %

Shares of NYSE:COP opened at $110.08 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The business has a 50 day moving average of $109.76 and a 200-day moving average of $116.53. 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 has a market cap 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 released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

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

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Mizuho decreased their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America restated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.29.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is accessible 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.