Cullinan Associates Inc. Purchases 300 Shares of ConocoPhillips (NYSE:COP)

Cullinan Associates Inc. raised its position in ConocoPhillips (NYSE:COP) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,979 shares of the energy producer’s stock after purchasing an additional 300 shares during the quarter. Cullinan Associates Inc.’s holdings in ConocoPhillips were worth $2,423,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at about $31,000. Ruedi Wealth Management Inc. lifted its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its position in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on COP shares. Barclays decreased their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho cut their price target on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.94.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE COP traded up $0.60 during mid-day trading on Friday, reaching $104.97. 203,862 shares of the company’s stock were exchanged, compared to its average volume of 5,868,840. 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 business has a fifty day simple moving average of $108.74 and a 200 day simple moving average of $114.21. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The firm has a market capitalization of $121.90 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is presently 25.86%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.