EFG International AG Takes Position in ConocoPhillips $COP

EFG International AG purchased a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,314 shares of the energy producer’s stock, valued at approximately $3,670,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. increased its position in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after acquiring an additional 2,712,703 shares during the last quarter. Capital International Investors lifted its holdings in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after acquiring an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Stock Down 0.8%

Shares of NYSE COP opened at $130.79 on Thursday. The stock has a market cap of $157.12 billion, a P/E ratio of 17.30, a PEG ratio of 1.39 and a beta of 0.11. The business’s fifty day simple moving average is $116.53 and its 200-day simple moving average is $118.32. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the previous year, the firm posted $1.42 EPS. ConocoPhillips’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings raised ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group lowered their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Morgan Stanley lifted their price objective on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays lowered their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

About ConocoPhillips

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.