7,086 ConocoPhillips $COP Shares Acquired by Triumph Capital Management

Triumph Capital Management grew its holdings in ConocoPhillips (NYSE:COP) by 543.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,389 shares of the energy producer’s stock after acquiring an additional 7,086 shares during the quarter. Triumph Capital Management’s holdings in ConocoPhillips were worth $1,050,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. BlackRock Inc. raised its stake in 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 during the last quarter. Wellington Management Group LLP raised its stake in ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after acquiring an additional 1,609,759 shares during the last quarter. Invesco Ltd. lifted its position in ConocoPhillips by 2.2% during the 4th quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock worth $1,255,594,000 after acquiring an additional 290,888 shares during the period. Finally, Bank of America Corp DE acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $1,260,482,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock traded up $1.44 during trading hours on Wednesday, reaching $142.34. 5,667,004 shares of the company’s stock were exchanged, compared to its average volume of 8,073,596. The company has a market cap of $171.00 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. The company’s 50 day moving average is $131.03 and its two-hundred day moving average is $122.22. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $142.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

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, beating 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 firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 10.84 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COP shares. Stifel Nicolaus assumed coverage on ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 target price on the stock. Morgan Stanley upped their price target on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Susquehanna increased their price target on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. The Goldman Sachs Group lowered their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew 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 value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

About ConocoPhillips

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.