Pointe Capital Management LLC Makes New $716,000 Investment in ConocoPhillips $COP

Pointe Capital Management LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the second quarter, HoldingsChannel.com reports. The fund purchased 6,891 shares of the energy producer’s stock, valued at approximately $716,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Odyssean LLC acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $1,277,000. Man Group plc acquired a new stake in shares of ConocoPhillips during the second quarter worth $12,582,000. Invst LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth $990,000. Councilmark Asset Management LLC bought a new stake in ConocoPhillips in the 2nd quarter valued at $1,707,000. Finally, First Bancorp Inc ME bought a new stake in ConocoPhillips in the 2nd quarter valued at $333,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. UBS Group increased their target price on ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Capital One Financial reduced their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research report on Monday, June 22nd. Finally, Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s 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 sale, the senior vice president 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. Insiders own 0.09% of the company’s stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

ConocoPhillips Stock Down 1.1%

ConocoPhillips stock opened at $131.84 on Wednesday. The company has a market cap of $158.39 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88. The company has a fifty day simple moving average of $116.14 and a 200 day simple moving average of $118.14. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the business earned $1.42 EPS. The company’s revenue was up 32.4% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is currently 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.