Profund Advisors LLC Has $4.03 Million Stake in ConocoPhillips (NYSE:COP)

Profund Advisors LLC lowered its position in ConocoPhillips (NYSE:COP) by 10.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,933 shares of the energy producer’s stock after selling 4,461 shares during the period. Profund Advisors LLC’s holdings in ConocoPhillips were worth $4,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in ConocoPhillips in the second quarter worth $274,000. Daymark Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 130.0% during the 2nd quarter. Daymark Wealth Partners LLC now owns 7,375 shares of the energy producer’s stock valued at $764,000 after acquiring an additional 4,168 shares during the last quarter. Summit Global Investments bought a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $585,000. EP Wealth Advisors LLC acquired a new stake in ConocoPhillips in the 1st quarter worth approximately $258,000. Finally, Astoria Portfolio Advisors LLC. boosted its position in ConocoPhillips by 17.7% during the second quarter. Astoria Portfolio Advisors LLC. now owns 4,580 shares of the energy producer’s stock worth $506,000 after purchasing an additional 690 shares during the period. Institutional investors own 80.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $2.60 during trading hours on Friday, hitting $114.59. 5,799,107 shares of the stock were exchanged, compared to its average volume of 5,550,686. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $130.55. The business’s 50-day moving average is $119.68 and its two-hundred day moving average is $112.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. The stock has a market capitalization of $136.07 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.68 and a beta of 1.28.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.02%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, November 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.36%.

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 30,800 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the transaction, the senior vice president now owns 5,937 shares in the company, valued at approximately $735,178.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ConocoPhillips news, SVP Andrew D. Lundquist sold 30,800 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total value of $3,813,964.00. Following the completion of the transaction, the senior vice president now directly owns 5,937 shares of the company’s stock, valued at $735,178.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sharmila Mulligan sold 1,849 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total transaction of $231,476.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 646,049 shares of company stock valued at $78,636,116. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $141.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Mizuho raised their price target on ConocoPhillips from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Raymond James decreased their price target on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Finally, Johnson Rice assumed coverage on shares of ConocoPhillips in a research report on Tuesday, November 14th. They set an “accumulate” rating and a $135.00 price objective for the company. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.35.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.