Sanders Morris Harris LLC Invests $1.78 Million in ConocoPhillips $COP

by · The Cerbat Gem

Sanders Morris Harris LLC purchased a new stake in ConocoPhillips (NYSE:COP – Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,848 shares of the energy producer’s stock, valued at approximately $1,783,000.

A number of other large investors have also recently bought and sold shares of the business. Howard Hughes Medical Institute acquired a new position in ConocoPhillips in the second quarter valued at $25,000. Bogart Wealth LLC boosted its stake in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management grew its holdings in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips during the second quarter worth about $33,000. Finally, Traub Capital Management LLC acquired a new position in ConocoPhillips in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $90.92 on Wednesday. The company’s fifty day moving average is $89.48 and its two-hundred day moving average is $92.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm has a market capitalization of $112.35 billion, a P/E ratio of 12.86, a PEG ratio of 2.14 and a beta of 0.32. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.7%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Raymond James Financial decreased their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Royal Bank Of Canada boosted their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Susquehanna cut their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.08.

View Our Latest Stock Report on COP

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

About ConocoPhillips

(Free Report)

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.

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