Sage Mountain Advisors LLC Has $855,000 Position in ConocoPhillips $COP

Sage Mountain Advisors LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,525 shares of the energy producer’s stock after purchasing an additional 353 shares during the period. Sage Mountain Advisors LLC’s holdings in ConocoPhillips were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tritonpoint Wealth LLC lifted its position in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares during the period. Iowa State Bank lifted its position in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after purchasing an additional 110 shares during the period. First National Bank Sioux Falls lifted its position in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. boosted its stake in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after buying an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC raised its stake in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on COP shares. Royal Bank Of Canada lifted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Barclays reduced their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. UBS Group dropped their price target on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wolfe Research lowered their target price on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Price Performance

Shares of COP stock opened at $88.01 on Friday. The business has a fifty day simple moving average of $93.32 and a 200 day simple moving average of $91.98. The company has a market cap of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results 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 company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.