Lynx Investment Advisory Purchases 8,184 Shares of ConocoPhillips $COP

Lynx Investment Advisory grew its position in ConocoPhillips (NYSE:COP) by 316.6% in the first quarter, Holdings Channel reports. The fund owned 10,769 shares of the energy producer’s stock after acquiring an additional 8,184 shares during the quarter. Lynx Investment Advisory’s holdings in ConocoPhillips were worth $1,131,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. eCIO Inc. bought a new position in shares of ConocoPhillips in the 1st quarter valued at $107,000. First Hawaiian Bank lifted its stake in shares of ConocoPhillips by 23.1% in the 1st quarter. First Hawaiian Bank now owns 33,736 shares of the energy producer’s stock valued at $3,543,000 after acquiring an additional 6,335 shares during the last quarter. Modern Wealth Management LLC lifted its stake in shares of ConocoPhillips by 18.6% in the 1st quarter. Modern Wealth Management LLC now owns 15,149 shares of the energy producer’s stock valued at $1,591,000 after acquiring an additional 2,379 shares during the last quarter. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of ConocoPhillips by 10.4% in the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 5,309 shares of the energy producer’s stock valued at $558,000 after acquiring an additional 500 shares during the last quarter. Finally, Strs Ohio bought a new position in ConocoPhillips during the 1st quarter worth $63,989,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $94.13 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $94.78 and a two-hundred day moving average price of $93.01. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a market cap of $117.56 billion, a P/E ratio of 12.63, a PEG ratio of 2.48 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the business posted $1.98 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on COP shares. UBS Group raised their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Citigroup lowered their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Melius started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.86.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.