Summit Trail Advisors LLC Has $2.70 Million Position in ConocoPhillips (NYSE:COP)

Summit Trail Advisors LLC lifted its stake in ConocoPhillips (NYSE:COP) by 264.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,587 shares of the energy producer’s stock after purchasing an additional 17,114 shares during the period. Summit Trail Advisors LLC’s holdings in ConocoPhillips were worth $2,698,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Valued Wealth Advisors LLC grew its position in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after buying an additional 86 shares during the period. Adirondack Trust Co. raised its stake in ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after buying an additional 90 shares during the period. Finally, Mayfair Advisory Group LLC increased its holdings in shares of ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after acquiring an additional 90 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Trading Down 0.4 %

COP opened at $110.08 on Friday. The company’s 50 day moving average price is $109.76 and its two-hundred day moving average price is $116.53. The firm has a market capitalization of $127.83 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.80 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. 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 (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company 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 revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. As a group, research analysts predict 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. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.11%. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

Several analysts have commented on COP shares. Mizuho dropped their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company reduced their target price 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. Scotiabank decreased their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Sanford C. Bernstein dropped their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

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.