Oxbow Advisors LLC Acquires 129,326 Shares of ConocoPhillips $COP

by · The Markets Daily

Oxbow Advisors LLC grew its stake in ConocoPhillips (NYSE:COP – Free Report) by 369.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,364 shares of the energy producer’s stock after acquiring an additional 129,326 shares during the period. ConocoPhillips accounts for approximately 1.6% of Oxbow Advisors LLC’s holdings, making the stock its 13th largest position. Oxbow Advisors LLC’s holdings in ConocoPhillips were worth $14,750,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth about $35,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on COP shares. BMO Capital Markets lifted their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday. Roth Capital dropped their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group reduced their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Finally, UBS Group lowered their price target on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $116.78.

View Our Latest Analysis on COP

ConocoPhillips Trading Down 1.0%

Shares of COP stock opened at $86.83 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The stock’s fifty day moving average price is $94.19 and its two-hundred day moving average price is $92.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $108.45 billion, a PE ratio of 11.66, a P/E/G ratio of 2.35 and a beta of 0.62.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s payout ratio is 41.88%.

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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