Eagle Bay Advisors LLC Makes New $481,000 Investment in ConocoPhillips $COP

Eagle Bay Advisors LLC purchased a new position in ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,846 shares of the energy producer’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Venture Visionary Partners LLC grew its position in shares of ConocoPhillips by 263.6% during the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock worth $14,850,000 after acquiring an additional 86,019 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth about $6,896,000. Qsemble Capital Management LP acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth about $3,645,000. Cetera Trust Company N.A bought a new stake in ConocoPhillips in the 2nd quarter valued at about $870,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in ConocoPhillips in the 2nd quarter valued at about $1,475,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Seaport Research Partners initiated coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group cut their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Stifel Nicolaus began coverage on ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.62.

ConocoPhillips Price Performance

Shares of COP opened at $146.43 on Friday. The firm has a market capitalization of $175.92 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a one year low of $85.57 and a one year high of $146.59. The stock’s fifty day moving average is $132.11 and its 200-day moving average is $122.44.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for 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 company’s revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. Equities analysts anticipate that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.