Interval Partners LP Invests $9.89 Million in ConocoPhillips (NYSE:COP)

Interval Partners LP purchased a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 86,481 shares of the energy producer’s stock, valued at approximately $9,892,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its stake in shares of ConocoPhillips by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock worth $1,560,000 after purchasing an additional 483 shares during the last quarter. SageView Advisory Group LLC increased its position in ConocoPhillips by 196.5% during the fourth quarter. SageView Advisory Group LLC now owns 9,846 shares of the energy producer’s stock worth $1,123,000 after buying an additional 6,525 shares during the last quarter. Sepio Capital LP increased its position in ConocoPhillips by 12.6% during the fourth quarter. Sepio Capital LP now owns 2,471 shares of the energy producer’s stock worth $287,000 after buying an additional 276 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in ConocoPhillips by 6.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 43,368 shares of the energy producer’s stock valued at $5,034,000 after buying an additional 2,492 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of ConocoPhillips by 7.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 10,922 shares of the energy producer’s stock worth $1,268,000 after buying an additional 772 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $109.87 on Monday. The stock’s 50 day simple moving average is $109.76 and its 200-day simple moving average is $116.60. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap 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.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that ConocoPhillips will post 8.41 EPS 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 given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COP. Wolfe Research began coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Mizuho decreased their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report 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. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $142.29.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.