EFG International AG Makes New Investment in ConocoPhillips $COP

EFG International AG acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, HoldingsChannel reports. The fund acquired 35,314 shares of the energy producer’s stock, valued at approximately $3,670,000.

A number of other hedge funds have also made changes to their positions in COP. Patten Group Inc. increased its stake in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares during the last quarter. IFC Advisors LLC boosted its holdings in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after buying an additional 84 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. lifted its position in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after acquiring an additional 92 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.8%

NYSE:COP opened at $130.79 on Thursday. The firm has a market cap of $157.12 billion, a P/E ratio of 17.30, a PEG ratio of 1.39 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $116.53 and its 200-day simple moving average is $118.32. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COP shares. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group increased their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Argus raised their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Barclays dropped their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $140.29.

About ConocoPhillips

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.