Ruggaard & Associates LLC Purchases Shares of 12,827 ConocoPhillips $COP

Ruggaard & Associates LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,827 shares of the energy producer’s stock, valued at approximately $1,334,000. ConocoPhillips comprises 0.5% of Ruggaard & Associates LLC’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors also recently modified their holdings of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the 4th quarter worth about $25,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $32,000. Finally, BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $33,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Jefferies Financial Group lifted their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their price target on ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, Morgan Stanley raised their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Trading Down 0.8%

Shares of ConocoPhillips stock opened at $129.57 on Friday. The company has a fifty day moving average of $116.97 and a 200 day moving average of $118.48. The company has a market capitalization of $155.66 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.38 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

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, topping the consensus estimate of $2.90 by $0.34. The business 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 for the quarter was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The stock was 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 directly owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

ConocoPhillips 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.