Nykredit A S Acquires Shares of 153,704 ConocoPhillips $COP

Nykredit A S acquired a new position in ConocoPhillips (NYSE:COP) in the second quarter, Holdings Channel reports. The institutional investor acquired 153,704 shares of the energy producer’s stock, valued at approximately $15,979,000.

A number of other institutional investors have also recently made changes to their positions in COP. Frazier Financial Advisors LLC lifted its stake in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the 4th quarter valued at $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at $36,000. Evergreen Advisors LLC bought a new stake in ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC purchased a new position in ConocoPhillips during the second quarter worth $32,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.1%

COP stock opened at $134.23 on Friday. The company has a market capitalization of $161.26 billion, a PE ratio of 17.76, a P/E/G ratio of 1.43 and a beta of 0.13. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $137.42. The firm’s 50-day moving average is $120.15 and its 200 day moving average is $119.44. 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 (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. On average, research analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is presently 44.44%.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. Argus increased their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Susquehanna increased their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Seaport Research Partners initiated coverage on shares of ConocoPhillips in a research note on Thursday. They issued a “neutral” rating for the company. BMO Capital Markets dropped their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company increased their price target on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Profile

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.