3,089 Shares in ConocoPhillips (NYSE:COP) Purchased by Malaga Cove Capital LLC

Malaga Cove Capital LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,089 shares of the energy producer’s stock, valued at approximately $353,000.

Several other hedge funds have also bought and sold shares of the stock. Valued Wealth Advisors LLC lifted its stake in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares during the last quarter. Adirondack Trust Co. increased its position in shares of ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised its stake in ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $105.60 on Tuesday. The stock has a market cap of $122.63 billion, a PE ratio of 11.96, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The firm has a 50-day simple moving average of $111.03 and a two-hundred day simple moving average of $116.98.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 8.42 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COP. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America reaffirmed a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Raymond James restated a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Finally, UBS Group increased their price target on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $143.24.

About ConocoPhillips

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.