Mercer Global Advisors Inc. ADV Purchases 10,032 Shares of ConocoPhillips (NYSE:COP)

Mercer Global Advisors Inc. ADV boosted its position in ConocoPhillips (NYSE:COP) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,282 shares of the energy producer’s stock after purchasing an additional 10,032 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in ConocoPhillips were worth $33,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in COP. Gilbert & Cook Inc. boosted its stake in shares of ConocoPhillips by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after purchasing an additional 483 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $41,000. Sachetta LLC bought a new position in ConocoPhillips in the fourth quarter worth approximately $27,000. CreativeOne Wealth LLC increased its holdings in ConocoPhillips by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,706 shares of the energy producer’s stock worth $779,000 after purchasing an additional 109 shares during the period. Finally, Assetmark Inc. raised its position in ConocoPhillips by 10.9% during the 4th quarter. Assetmark Inc. now owns 158,698 shares of the energy producer’s stock valued at $18,420,000 after purchasing an additional 15,655 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $108.64 on Thursday. The stock’s fifty day moving average price is $109.89 and its 200 day moving average price is $116.59. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. 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 company has a market cap of $126.16 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current 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 issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COP shares. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Barclays raised their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Scotiabank dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Finally, Raymond James restated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.29.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.