ConocoPhillips $COP Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in ConocoPhillips (NYSE:COP) by 12.8% in the second quarter, Holdings Channel.com reports. The firm owned 199,993 shares of the energy producer’s stock after acquiring an additional 22,698 shares during the quarter. NEOS Investment Management LLC’s holdings in ConocoPhillips were worth $20,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Frazier Financial Advisors LLC boosted its holdings 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 acquired a new stake in shares of ConocoPhillips during the 4th quarter worth $25,000. Ballast Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter worth $36,000. Evergreen Advisors LLC purchased a new position in shares of ConocoPhillips in the 1st quarter worth $36,000. Finally, Allied Private Wealth LLC acquired a new position in ConocoPhillips in the second quarter valued at $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.1%

NYSE COP opened at $134.23 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $137.42. The business has a 50 day moving average price of $120.15 and a two-hundred day moving average price of $119.44. The stock has a market cap 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 (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 10.55 EPS for the current fiscal 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 paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were 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 in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Seaport Research Partners assumed coverage on ConocoPhillips in a research report on Thursday. They set a “neutral” rating for the company. BMO Capital Markets reduced their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group dropped their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Susquehanna raised their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley increased their price objective on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Company 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.