VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in ConocoPhillips $COP

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of ConocoPhillips (NYSE:COP – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 136,000 shares of the energy producer’s stock, valued at approximately $14,139,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Patten Group Inc. raised its position in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares during the period. IFC Advisors LLC grew its position in shares of ConocoPhillips by 0.4% during the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after acquiring an additional 84 shares during the period. Cornerstone Planning Group LLC grew its position in shares of ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after acquiring an additional 88 shares during the period. Blue Trust Inc. increased its stake in shares of ConocoPhillips by 0.4% in the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of ConocoPhillips by 0.6% in the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.0%

Shares of COP stock opened at $134.23 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a one year low of $85.57 and a one year high of $137.42. The company’s fifty day moving average price is $120.75 and its 200-day moving average price is $119.67. The company has a market capitalization of $161.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.41 and a beta of 0.13.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 10.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.84 dividend. 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 presently 44.44%.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. Susquehanna boosted their price target on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Capital One Financial decreased their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Finally, Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

Read Our Latest Report on COP

About ConocoPhillips

(Free Report)

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.

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