Pure Financial Advisors LLC Buys Shares of 8,978 ConocoPhillips $COP

Pure Financial Advisors LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the second quarter, Holdings Channel.com reports. The firm purchased 8,978 shares of the energy producer’s stock, valued at approximately $933,000.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC lifted its position in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $25,000. Ballast Advisors LLC purchased a new position in ConocoPhillips in the first quarter worth $36,000. Evergreen Advisors LLC purchased a new position in ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC acquired a new position in shares of ConocoPhillips during the second quarter worth $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent analyst reports. Capital One Financial lowered their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Raymond James Financial reissued an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a report on Monday. Susquehanna upped their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.29.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

ConocoPhillips Trading Down 0.8%

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. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.88. The stock has a market cap of $157.12 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.39 and a beta of 0.11. The business has a 50-day moving average price of $116.53 and a 200-day moving average price of $118.32.

ConocoPhillips (NYSE:COP) last issued 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. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 EPS. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed 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 is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

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.