Proficio Capital Partners LLC Buys Shares of 17,604 ConocoPhillips $COP

Proficio Capital Partners LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,604 shares of the energy producer’s stock, valued at approximately $1,830,000.

A number of other large investors have also made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the fourth quarter worth about $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at about $28,000. Frazier Financial Advisors LLC increased its holdings in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $32,000. Finally, BNP Paribas acquired a new stake in ConocoPhillips in the 2nd quarter worth approximately $33,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.7%

NYSE COP opened at $132.63 on Tuesday. The company has a market capitalization of $159.33 billion, a PE ratio of 17.54, a P/E/G ratio of 1.37 and a beta of 0.11. The company has a fifty day moving average of $117.88 and a 200 day moving average of $118.81. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. 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 issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping 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 business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter last year, the company earned $1.42 EPS. The business’s revenue was up 32.4% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Jefferies Financial Group lifted their price objective 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. Susquehanna boosted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Mizuho reduced their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Potential access to Venezuelan resources: A proposed U.S.-backed venture could give American oil companies access to development opportunities across 17 Venezuelan fields. Although ConocoPhillips was reportedly among companies previously hesitant to move quickly, greater U.S. government involvement could reduce some political and investment barriers over time. Trump’s Venezuela Deal Leaves $100 Billion Question Unanswered
• Positive Sentiment: Potential Iraq growth opportunities: Iraqi officials discussed oil and gas development with BP and ConocoPhillips, highlighting possible project opportunities that could support the company’s international production portfolio. Iraq discusses oil and gas development with BP, ConocoPhillips
• Positive Sentiment: Defensive industry positioning: Zacks identified ConocoPhillips as relatively well positioned to withstand slowing production growth, refining-related cost pressures and rising renewable-energy competition, supporting its investment case compared with weaker industry peers. Can These 3 U.S. Integrated Energy Stocks Overcome Industry Headwinds?
• Neutral Sentiment: Venezuela investment uncertainty: Some major producers are questioning the proposed U.S.-Venezuela arrangement because of the central role of a Venezuelan businessman and uncertainty surrounding the investment structure. This could delay ConocoPhillips’ participation, even if the long-term resource potential is substantial. Trump’s oil deal with Venezuela raises red flags for some major producers
• Negative Sentiment: Near-term supply benefits appear limited: Analysts caution that Venezuela’s enormous reserves will not quickly translate into additional oil production because of infrastructure, financing and operational constraints. That weakens the immediate earnings benefit implied by the deal and could contribute to future global supply growth. Energy Expert Warns Venezuela’s Oil Deal Won’t Fix Supply Anytime Soon
• Negative Sentiment: Buyout-related valuation dispute: 3D Energi is challenging an independent valuation of its 20% interest during a ConocoPhillips buyout process. The dispute could complicate negotiations or increase transaction costs, although it does not necessarily alter the underlying asset value. 3D Energi Challenges Independent Valuation

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.