ConocoPhillips $COP Shares Newly Acquired by Neumann Capital Management LLC

Neumann Capital Management LLC bought a new stake in ConocoPhillips (NYSE:COP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,038 shares of the energy producer’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its position in 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 acquiring an additional 50,116,727 shares during the last quarter. BlackRock Inc. raised its holdings in ConocoPhillips by 3.0% in 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 holdings in ConocoPhillips by 12.0% in 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. Dimensional Fund Advisors LP raised its holdings in ConocoPhillips by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock valued at $1,457,978,000 after acquiring an additional 74,261 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in ConocoPhillips by 10.8% in the 1st quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock valued at $1,344,017,000 after acquiring an additional 995,392 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $141.66 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market capitalization of $170.19 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.46 and a beta of 0.24. The company’s 50-day moving average is $131.53 and its two-hundred day moving average is $122.27. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $143.13.

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 the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 EPS. Analysts forecast that ConocoPhillips will post 10.84 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Seaport Research Partners began coverage on ConocoPhillips in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Argus increased their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. UBS Group increased their price target on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a report on Monday, September 14th. Finally, Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $143.62.

ConocoPhillips Company Profile

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.