DRW Securities LLC Has $4.97 Million Stake in ConocoPhillips (NYSE:COP)

DRW Securities LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 1,565.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,486 shares of the energy producer’s stock after buying an additional 40,875 shares during the quarter. DRW Securities LLC’s holdings in ConocoPhillips were worth $4,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $27,000. Cape Investment Advisory Inc. grew its stake in ConocoPhillips by 96.0% in the fourth 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 period. Stephens Consulting LLC increased 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 in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Finally, Northwest Bank & Trust Co bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $32,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Susquehanna cut their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Barclays boosted their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.29.

ConocoPhillips Price Performance

NYSE:COP opened at $109.87 on Friday. The stock has a market capitalization of $127.59 billion, a PE ratio of 12.44, a P/E/G ratio of 0.80 and a beta of 1.22. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a fifty day simple moving average of $109.76 and a 200 day simple moving average of $116.57. 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 (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the business earned $1.84 EPS. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

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

Insider Activity

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 sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.