Lavaca Capital LLC Acquires Shares of 3,831 ConocoPhillips (NYSE:COP)

Lavaca Capital LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,831 shares of the energy producer’s stock, valued at approximately $438,000.

A number of other large investors have also modified their holdings of the business. Cardinal Capital Management Inc. purchased a new stake in ConocoPhillips during the 4th quarter valued at about $13,468,000. Harbor Investment Advisory LLC increased its holdings in shares of ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after buying an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips during the second quarter worth $30,021,000. Finally, EP Wealth Advisors LLC boosted its stake in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.6 %

Shares of COP opened at $109.87 on Friday. 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 stock has a market capitalization of $127.59 billion, a PE ratio of 12.44, a P/E/G ratio of 0.80 and a beta of 1.22. The company’s 50-day simple moving average is $109.76 and its 200-day simple moving average is $116.57. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company posted $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.11%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Insider Buying and Selling at ConocoPhillips

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Scotiabank reduced their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. 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 research note on Monday, September 16th. Barclays increased their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Bank of America reaffirmed a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective on the stock. Five investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.29.

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.