Donoghue Forlines LLC Buys New Stake in ConocoPhillips $COP

Donoghue Forlines LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,779 shares of the energy producer’s stock, valued at approximately $1,416,000.

Several other large investors also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in ConocoPhillips during the first quarter worth approximately $31,000. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3%

NYSE COP opened at $89.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $110.45 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The firm has a 50-day moving average price of $90.96 and a 200 day moving average price of $91.94.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Analyst Ratings Changes

Several analysts recently commented on COP shares. Evercore ISI reduced their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Roth Capital reduced their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Susquehanna decreased their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Royal Bank Of Canada boosted their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Mizuho reduced their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.33.

Insider Buying and Selling

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company’s stock.

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.