5,024 Shares in ConocoPhillips $COP Purchased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,024 shares of the energy producer’s stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. BlackRock Inc. raised its position in shares of ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. Capital International Investors lifted its stake in ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Franklin Resources Inc. boosted its holdings in ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after purchasing an additional 193,401 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. BMO Capital Markets decreased their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Argus boosted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Capital One Financial cut their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.29.

ConocoPhillips Stock Performance

COP opened at $130.46 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $117.42 and its 200-day moving average is $118.56. The stock has a market cap of $156.73 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.88.

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. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the prior year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 10.55 earnings per share for the current 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Insider Activity at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’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 transaction, the senior vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

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.