Atomi Financial Group Inc. Raises Holdings in ConocoPhillips (NYSE:COP)

Atomi Financial Group Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 9.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,360 shares of the energy producer’s stock after acquiring an additional 1,013 shares during the period. Atomi Financial Group Inc.’s holdings in ConocoPhillips were worth $1,196,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. XML Financial LLC boosted its position in ConocoPhillips by 3.4% in the 4th quarter. XML Financial LLC now owns 4,590 shares of the energy producer’s stock worth $533,000 after purchasing an additional 149 shares in the last quarter. Symmetry Investments LP acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $455,000. Icon Wealth Advisors LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,122,000. Vista Investment Management raised its stake in shares of ConocoPhillips by 5.3% during the 4th quarter. Vista Investment Management now owns 7,193 shares of the energy producer’s stock worth $835,000 after buying an additional 359 shares during the period. Finally, BOKF NA raised its stake in ConocoPhillips by 6.5% in the 4th quarter. BOKF NA now owns 201,288 shares of the energy producer’s stock valued at $23,363,000 after purchasing an additional 12,356 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company dropped their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Finally, Scotiabank lowered their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Five 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.29.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $110.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market capitalization of $129.58 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.87 and a beta of 1.21. The business’s 50-day moving average is $108.88 and its two-hundred day moving average is $115.88. 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 (EPS) for the quarter, beating 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 analyst estimates of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced 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. This represents a $2.32 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.