Sage Mountain Advisors LLC Boosts Position in ConocoPhillips $COP

Sage Mountain Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,525 shares of the energy producer’s stock after acquiring an additional 353 shares during the quarter. Sage Mountain Advisors LLC’s holdings in ConocoPhillips were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Schwartz Investment Counsel Inc. boosted its holdings in ConocoPhillips by 159.6% in 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 stake in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after buying an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of ConocoPhillips by 17.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after buying an additional 22,827 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of ConocoPhillips by 2.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after buying an additional 78,642 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after acquiring an additional 5,627 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Capital One Financial boosted their price target on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Susquehanna dropped their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Morgan Stanley decreased their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets lifted their target price on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of COP stock opened at $88.01 on Friday. The stock has a 50-day simple moving average of $93.32 and a 200 day simple moving average of $91.98. The stock has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

ConocoPhillips Company 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.