ConocoPhillips (NYSE:COP) Shares Purchased by Evergreen Capital Management LLC

Evergreen Capital Management LLC raised its holdings in ConocoPhillips (NYSE:COP) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,341 shares of the energy producer’s stock after purchasing an additional 287 shares during the period. Evergreen Capital Management LLC’s holdings in ConocoPhillips were worth $2,212,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC boosted its stake 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 purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the period. Adirondack Trust Co. increased its stake in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its stake in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

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

ConocoPhillips Price Performance

NYSE 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 firm has a market capitalization of $127.38 billion, a PE ratio of 12.42, a P/E/G ratio of 0.80 and a beta of 1.22. The company’s 50 day simple moving average is $109.66 and its 200 day simple moving average is $116.58. 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 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. 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 firm earned $1.84 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast 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. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.12%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.