Magnolia Capital Advisors LLC Buys New Shares in ConocoPhillips $COP

Magnolia Capital Advisors LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 4,027 shares of the energy producer’s stock, valued at approximately $419,000.

A number of other hedge funds have also modified their holdings of COP. Primecap Management Co. CA acquired a new stake in ConocoPhillips during the 2nd quarter worth about $1,204,726,000. Legal & General Group Plc purchased a new position in shares of ConocoPhillips in the second quarter worth approximately $716,151,000. Jupiter Topco LLC acquired a new stake in shares of ConocoPhillips during the second quarter valued at approximately $427,954,000. Capital International Investors lifted its position in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after purchasing an additional 2,712,703 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $130.79 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $116.53 and its two-hundred day moving average is $118.32. The company has a market cap of $157.12 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.39 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.88.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. UBS Group upped their price target on ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Raymond James Financial reaffirmed an “underperform” rating and set a $168.00 target price 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 research report on Thursday, August 6th. The Goldman Sachs Group decreased their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Buying and Selling

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 shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

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.