111 Capital Invests $2 Million in ConocoPhillips $COP

111 Capital acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The fund acquired 22,328 shares of the energy producer’s stock, valued at approximately $2,004,000.

Other institutional investors have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC boosted its position in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after purchasing an additional 30,000 shares during the last quarter. Aberdeen Group plc boosted its position in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after purchasing an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC boosted its position in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after purchasing an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after buying an additional 54,900 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.8%

ConocoPhillips stock opened at $94.17 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The business’s 50-day simple moving average is $94.92 and its 200-day simple moving average is $92.91. The firm has a market capitalization of $117.61 billion, a PE ratio of 12.64, a PEG ratio of 2.46 and a beta of 0.62. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Mizuho cut their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada cut their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

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.