Odyssean LLC Makes New Investment in ConocoPhillips $COP

Odyssean LLC acquired a new position in ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The institutional investor acquired 12,283 shares of the energy producer’s stock, valued at approximately $1,277,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA bought a new position in ConocoPhillips in the 2nd quarter worth $1,204,726,000. Legal & General Group Plc purchased a new stake in ConocoPhillips in the 2nd quarter worth $716,151,000. Jupiter Topco LLC bought a new stake in ConocoPhillips during the second quarter valued at about $427,954,000. Capital International Investors raised its holdings in ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the period. Finally, BlackRock Inc. lifted its position in shares of ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COP shares. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. The Goldman Sachs Group decreased their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. BMO Capital Markets lowered their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Barclays dropped their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at $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 available at this hyperlink. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $134.23 on Friday. The company has a market cap of $161.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.43 and a beta of 0.13. The firm’s fifty day moving average is $120.15 and its 200 day moving average is $119.44. 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 52-week low of $85.57 and a 52-week high of $137.42.

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, topping the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

ConocoPhillips 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.