Patrick M Sweeney & Associates Inc. Buys 327 Shares of ConocoPhillips (NYSE:COP)

Patrick M Sweeney & Associates Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,570 shares of the energy producer’s stock after buying an additional 327 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in ConocoPhillips were worth $271,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COP. First Trust Direct Indexing L.P. increased its position in shares of ConocoPhillips by 5.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth approximately $30,021,000. EP Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares in the last quarter. Norden Group LLC raised its stake in shares of ConocoPhillips by 2,634.9% in the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after acquiring an additional 119,890 shares during the last quarter. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 0.5 %

NYSE COP opened at $104.49 on Thursday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a 50-day simple moving average of $108.74 and a 200 day simple moving average of $114.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $121.34 billion, a PE ratio of 11.65, a P/E/G ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Research analysts forecast that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.22%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Barclays decreased their price objective on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Profile

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.