ConocoPhillips $COP Stock Position Raised by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc raised its holdings in shares of ConocoPhillips (NYSE:COP) by 216.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,347 shares of the energy producer’s stock after purchasing an additional 6,395 shares during the period. ConocoPhillips accounts for approximately 0.9% of Hummer Financial Advisory Services Inc’s investment portfolio, making the stock its 27th largest holding. Hummer Financial Advisory Services Inc’s holdings in ConocoPhillips were worth $1,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. State Street Corp grew its position in shares of ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares during the last quarter. BlackRock Inc. lifted its stake in ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after buying an additional 1,609,759 shares in the last quarter. Invesco Ltd. grew its holdings in ConocoPhillips by 2.2% during the 4th quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock valued at $1,255,594,000 after buying an additional 290,888 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in ConocoPhillips during the 2nd quarter valued at $1,260,482,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 3.4%

Shares of ConocoPhillips stock opened at $134.24 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $141.62. The firm has a market cap of $161.27 billion, a PE ratio of 17.76, a P/E/G ratio of 1.35 and a beta of 0.24. The business’s fifty day moving average is $129.39 and its two-hundred day moving average is $121.96. 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 (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 business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. Analysts anticipate that ConocoPhillips will post 10.68 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued 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 was Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

A number of research firms have recently weighed in on COP. Barclays cut their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Seaport Research Partners initiated coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a report on Thursday, September 10th. They issued a “hold” rating and a $148.00 target price on the stock. Finally, Jefferies Financial Group upped their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.29.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Oil prices rose on supply concerns. Crude prices gained amid worries about Middle East shipping routes and a larger-than-expected decline in U.S. crude inventories. A stronger commodity backdrop typically supports ConocoPhillips’ realized prices, cash flow and earnings. ConocoPhillips gains as oil prices jump on supply fears
• Positive Sentiment: Zacks upgraded COP to “Strong Buy.” The upgrade reflects ConocoPhillips’ earnings-surprise history and what Zacks describes as favorable conditions for another quarterly earnings beat. The company’s latest reported quarter exceeded both earnings and revenue expectations, while full-year guidance was reaffirmed. Will ConocoPhillips Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Institutional interest provided additional support. Worth Asset Management initiated a position, while recent filings showed share additions by several large investors, including JPMorgan, BlackRock, T. Rowe Price and Charles Schwab Investment Management. Analysts tracked by Quiver Quantitative have issued buy or overweight ratings, with a reported median price target of $143.
• Positive Sentiment: Long-term LNG exposure remains a potential catalyst. ConocoPhillips agreed to purchase 1 million metric tons of LNG annually from Venture Global beginning in 2030 under a 20-year agreement. The deal expands its long-term natural-gas exposure, although the financial benefit is several years away. ConocoPhillips Could Be 11% Undervalued Following New 20 Year LNG Deal
• Neutral Sentiment: Insider activity was mixed for investors. Three insiders sold shares during the past six months, with no reported open-market purchases. These sales may raise a modest caution flag, but they do not necessarily indicate a change in the company’s operating outlook.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips 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. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.