Providence Capital Advisors LLC Invests $5.51 Million in ConocoPhillips (NYSE:COP)

Providence Capital Advisors LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 48,200 shares of the energy producer’s stock, valued at approximately $5,513,000.

Other institutional investors also recently modified their holdings of the company. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. grew its position in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the period. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $32,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of a number of analyst reports. Susquehanna decreased their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays lifted 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. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Scotiabank cut their price target 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. Five investment 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 company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $142.29.

ConocoPhillips Price Performance

NYSE:COP opened at $109.69 on Tuesday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a market cap of $127.38 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.80 and a beta of 1.22. The firm’s fifty day moving average price is $109.66 and its two-hundred day moving average price is $116.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

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

Insider Activity at ConocoPhillips

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