Coastal Bridge Advisors LLC Buys New Position in ConocoPhillips $COP

Coastal Bridge Advisors LLC bought a new stake in ConocoPhillips (NYSE:COP) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,396 shares of the energy producer’s stock, valued at approximately $665,000.

A number of other large investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC raised its holdings in shares of ConocoPhillips by 151.0% in the first 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 position in ConocoPhillips during the fourth quarter worth $25,000. Ballast Advisors LLC bought a new position in ConocoPhillips in the first quarter valued at $36,000. Evergreen Advisors LLC bought a new position in ConocoPhillips in the first quarter valued at $36,000. Finally, Allied Private Wealth LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $130.46 on Friday. 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 firm’s fifty day moving average price is $117.42 and its two-hundred day moving average price is $118.56. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The firm has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.11.

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

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

Analysts Set New Price Targets

Several brokerages have commented on COP. UBS Group boosted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Susquehanna raised their price objective on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. BMO Capital Markets dropped their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Raymond James Financial reissued an “underperform” rating and set a $168.00 price target on shares of ConocoPhillips in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.29.

Insider Buying and Selling

In related news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated 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 completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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.