ConocoPhillips $COP Stock Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its position in ConocoPhillips (NYSE:COP) by 28,233.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 833,857 shares of the energy producer’s stock after purchasing an additional 830,914 shares during the period. ConocoPhillips makes up about 1.3% of Douglas Lane & Associates LLC’s holdings, making the stock its 17th largest holding. Douglas Lane & Associates LLC’s holdings in ConocoPhillips were worth $104,357,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC boosted its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the first quarter worth approximately $36,000. Evergreen Advisors LLC acquired a new position in shares of ConocoPhillips during the 1st quarter valued at $36,000. Finally, Allied Private Wealth LLC purchased a new position in ConocoPhillips in the second quarter valued at about $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

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

ConocoPhillips Trading Up 0.2%

COP stock traded up $0.29 during mid-day trading on Friday, reaching $134.48. 1,675,575 shares of the stock traded hands, compared to its average volume of 8,101,124. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62. The stock’s fifty day moving average is $129.39 and its 200-day moving average is $121.96. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $161.56 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.35 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last issued 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 business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter last year, the firm posted $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 expect that ConocoPhillips will post 10.68 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Jefferies Financial Group boosted their price target on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Argus boosted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Seaport Research Partners initiated coverage on ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.29.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.