Signaturefd LLC Has $2.98 Million Stake in ConocoPhillips (NYSE:COP)

Signaturefd LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,036 shares of the energy producer’s stock after buying an additional 772 shares during the period. Signaturefd LLC’s holdings in ConocoPhillips were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of COP. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Bank OZK lifted its holdings in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after buying an additional 97 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in ConocoPhillips by 33.8% during the 2nd quarter. Smith Salley Wealth Management now owns 8,260 shares of the energy producer’s stock worth $945,000 after buying an additional 2,085 shares in the last quarter. Washington Trust Bank lifted its stake in shares of ConocoPhillips by 2.0% in the 2nd quarter. Washington Trust Bank now owns 65,816 shares of the energy producer’s stock valued at $7,528,000 after purchasing an additional 1,298 shares during the period. Finally, ARK & TLK Investments LLC lifted its stake in shares of ConocoPhillips by 7.0% in the 2nd quarter. ARK & TLK Investments LLC now owns 3,030 shares of the energy producer’s stock valued at $347,000 after purchasing an additional 199 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s 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 completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Scotiabank lowered their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Truist Financial lowered their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $143.65.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.58 during mid-day trading on Friday, hitting $113.79. The stock had a trading volume of 5,513,830 shares, compared to its average volume of 5,656,144. ConocoPhillips has a twelve month low of $102.27 and a twelve month high of $135.18. The stock has a market cap of $133.08 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.22 and a beta of 1.24. The company’s 50 day simple moving average is $111.68 and its 200 day simple moving average is $116.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last issued its earnings results 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 net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the business posted $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

ConocoPhillips Company Profile

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.