Jupiter Topco LLC Acquires Shares of 4,116,578 ConocoPhillips $COP

Jupiter Topco LLC bought a new position in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,116,578 shares of the energy producer’s stock, valued at approximately $427,954,000.

Several other hedge funds also recently made changes to their positions in COP. Patten Group Inc. increased its stake in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares during the period. IFC Advisors LLC increased its position in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after purchasing an additional 84 shares during the period. Cornerstone Planning Group LLC raised its stake in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. raised its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 1.1%

Shares of NYSE COP opened at $131.84 on Wednesday. The company has a market cap of $158.39 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.40 and a beta of 0.11. 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 has a 12 month low of $85.57 and a 12 month high of $135.88. The stock has a 50-day moving average price of $116.14 and a two-hundred day moving average price of $118.14.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were 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 of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James Financial reiterated an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research note on Monday. Weiss Ratings raised shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. BMO Capital Markets reduced their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Capital One Financial decreased 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 note on Monday, May 18th. Finally, Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

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 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.