Frank Rimerman Advisors LLC Purchases 9,868 Shares of ConocoPhillips $COP

Frank Rimerman Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 71.1% during the third quarter, HoldingsChannel reports. The fund owned 23,740 shares of the energy producer’s stock after buying an additional 9,868 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in ConocoPhillips were worth $2,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Encompass More Asset Management grew its holdings in shares of ConocoPhillips by 39.3% during the third quarter. Encompass More Asset Management now owns 7,169 shares of the energy producer’s stock worth $969,000 after purchasing an additional 2,021 shares during the last quarter. Gemmer Asset Management LLC increased its stake in shares of ConocoPhillips by 284.7% in the third quarter. Gemmer Asset Management LLC now owns 9,052 shares of the energy producer’s stock valued at $1,133,000 after buying an additional 6,699 shares during the period. Alpine Bank Wealth Management increased its stake in shares of ConocoPhillips by 19.3% in the third quarter. Alpine Bank Wealth Management now owns 3,201 shares of the energy producer’s stock valued at $443,000 after buying an additional 517 shares during the period. Sterling Investment Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at approximately $609,000. Finally, Aull & Monroe Investment Management Corp raised its holdings in ConocoPhillips by 30.8% in the 3rd quarter. Aull & Monroe Investment Management Corp now owns 22,710 shares of the energy producer’s stock valued at $2,842,000 after buying an additional 5,350 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 3.3%

NYSE COP opened at $146.43 on Friday. The firm has a market capitalization of $175.92 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. The business’s 50-day moving average price is $132.11 and its two-hundred day moving average price is $122.44. 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 $146.59.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during 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 was up 32.4% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. On average, analysts expect that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew 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 transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several recent research reports. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price on the stock. Barclays reduced their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Mizuho decreased their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, UBS Group lifted their price target on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.62.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.