ConocoPhillips (NYSE:COP) Shares Bought by Sagefield Capital LP

Sagefield Capital LP increased its position in ConocoPhillips (NYSE:COP) by 47.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 399,711 shares of the energy producer’s stock after buying an additional 128,687 shares during the quarter. ConocoPhillips accounts for approximately 4.8% of Sagefield Capital LP’s investment portfolio, making the stock its 5th largest position. Sagefield Capital LP’s holdings in ConocoPhillips were worth $45,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Interval Partners LP acquired a new stake in ConocoPhillips during the 2nd quarter valued at approximately $9,892,000. Bank of Montreal Can increased its position in ConocoPhillips by 1.5% during the 2nd quarter. Bank of Montreal Can now owns 2,122,547 shares of the energy producer’s stock valued at $244,178,000 after purchasing an additional 31,328 shares during the period. Evergreen Capital Management LLC increased its position in ConocoPhillips by 1.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,341 shares of the energy producer’s stock valued at $2,212,000 after purchasing an additional 287 shares during the period. Public Sector Pension Investment Board increased its position in ConocoPhillips by 4.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 203,481 shares of the energy producer’s stock valued at $23,274,000 after purchasing an additional 7,848 shares during the period. Finally, DRW Securities LLC increased its position in ConocoPhillips by 1,565.5% during the 2nd quarter. DRW Securities LLC now owns 43,486 shares of the energy producer’s stock valued at $4,974,000 after purchasing an additional 40,875 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $109.69 on Tuesday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The business’s fifty day moving average is $109.66 and its 200 day moving average is $116.58. 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 $127.38 billion, a P/E ratio of 12.42, 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 analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the business earned $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly 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 available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company cut their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

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.