United Capital Financial Advisors LLC Takes $6.04 Million Position in ConocoPhillips $COP

United Capital Financial Advisors LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 58,116 shares of the energy producer’s stock, valued at approximately $6,042,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips during the 4th quarter valued at about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC lifted its position in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $32,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $33,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Down 0.8%

NYSE:COP opened at $129.57 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.88. The firm has a 50 day moving average of $116.97 and a 200 day moving average of $118.48. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $155.66 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.38 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the firm earned $1.42 earnings per share. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a report on Monday, June 22nd. Wells Fargo & Company increased their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Barclays cut their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. UBS Group boosted their price target on ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Mizuho decreased their price objective on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.29.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.