ConocoPhillips (NYSE:COP) Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 10.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,288 shares of the energy producer’s stock after buying an additional 4,655 shares during the period. ProVise Management Group LLC’s holdings in ConocoPhillips were worth $5,752,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors lifted its holdings in shares of ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. Bank of New York Mellon Corp boosted its position in ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after buying an additional 826,529 shares during the last quarter. Fisher Asset Management LLC increased its holdings in ConocoPhillips by 2.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after buying an additional 191,519 shares during the period. Finally, Putnam Investments LLC raised its position in ConocoPhillips by 3.6% during the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after buying an additional 211,257 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’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 sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Susquehanna reduced their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Bank of America reissued a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Scotiabank dropped their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Sanford C. Bernstein decreased their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Five 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

ConocoPhillips Stock Performance

NYSE:COP opened at $110.51 on Friday. The stock has a market capitalization of $129.25 billion, a PE ratio of 12.52, a P/E/G ratio of 0.78 and a beta of 1.22. The company has a fifty day moving average of $109.82 and a two-hundred day moving average of $116.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted 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. 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 in the previous year, the firm posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

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.