62,500 Shares in ConocoPhillips $COP Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP bought a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 62,500 shares of the energy producer’s stock, valued at approximately $6,498,000.

Several other large investors have also recently modified their holdings of COP. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% in 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 during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips during the fourth quarter worth $25,000. Ballast Advisors LLC acquired a new stake in ConocoPhillips in the first quarter worth $36,000. Evergreen Advisors LLC bought a new stake in ConocoPhillips in the first quarter valued at $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips in the second quarter valued at $32,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.1%

NYSE:COP opened at $133.37 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a 50-day moving average of $115.73 and a 200-day moving average of $117.97. The company has a market cap of $160.22 billion, a PE ratio of 17.64, a PEG ratio of 1.43 and a beta of 0.11. ConocoPhillips has a one year low of $85.57 and a one year high of $135.88.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share 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 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 firm earned $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 10.46 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Capital One Financial cut their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Raymond James Financial reiterated an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a report on Monday. Morgan Stanley boosted their price objective on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Mizuho lowered their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.29.

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.