Savoie Capital LLC Boosts Stake in ConocoPhillips (NYSE:COP)

Savoie Capital LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,246 shares of the energy producer’s stock after purchasing an additional 10,000 shares during the quarter. ConocoPhillips comprises approximately 1.3% of Savoie Capital LLC’s investment portfolio, making the stock its 18th biggest position. Savoie Capital LLC’s holdings in ConocoPhillips were worth $9,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. Cape Investment Advisory Inc. grew its position in ConocoPhillips by 96.0% in the 4th 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 in the last quarter. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.2 %

Shares of ConocoPhillips stock opened at $109.69 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market capitalization of $127.38 billion, a P/E ratio of 12.42, a PEG 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 company’s fifty day moving average is $109.66 and its two-hundred day moving average is $116.58.

ConocoPhillips (NYSE:COP) last released its quarterly 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 firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the company posted $1.84 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COP shares. Mizuho reduced 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. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.29.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s 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 owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.