Pacer Advisors Inc. Increases Stock Position in ConocoPhillips (NYSE:COP)

Pacer Advisors Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,266 shares of the energy producer’s stock after purchasing an additional 954 shares during the quarter. Pacer Advisors Inc.’s holdings in ConocoPhillips were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jackson Hole Capital Partners LLC raised its stake in ConocoPhillips by 3.0% in the first quarter. Jackson Hole Capital Partners LLC now owns 8,693 shares of the energy producer’s stock valued at $268,000 after purchasing an additional 250 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of ConocoPhillips by 5.3% during the first quarter. Center for Financial Planning Inc. now owns 4,991 shares of the energy producer’s stock worth $154,000 after acquiring an additional 252 shares in the last quarter. Laurel Wealth Advisors Inc. raised its stake in shares of ConocoPhillips by 3.7% during the first quarter. Laurel Wealth Advisors Inc. now owns 7,243 shares of the energy producer’s stock worth $223,000 after acquiring an additional 258 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of ConocoPhillips by 9.9% during the second quarter. Financial Management Professionals Inc. now owns 2,934 shares of the energy producer’s stock worth $123,000 after acquiring an additional 265 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of ConocoPhillips by 11.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 2,614 shares of the energy producer’s stock worth $110,000 after acquiring an additional 271 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

In other ConocoPhillips news, Director David Thomas Seaton bought 2,400 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $41.03 per share, for a total transaction of $98,472.00. Following the acquisition, the director now owns 2,500 shares in the company, valued at approximately $102,575. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Several research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of ConocoPhillips in a research note on Friday, June 12th. They set a “buy” rating and a $56.00 price target on the stock. Cfra downgraded shares of ConocoPhillips to a “hold” rating and set a $50.00 price target on the stock. in a research note on Wednesday, June 10th. Mizuho lifted their price target on shares of ConocoPhillips from $37.00 to $46.00 in a research note on Friday, June 19th. Raymond James raised their target price on shares of ConocoPhillips from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Finally, Argus raised their target price on shares of ConocoPhillips from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.25.

NYSE:COP opened at $37.39 on Friday. The stock has a market cap of $40.37 billion, a P/E ratio of 18.42 and a beta of 1.69. The firm’s fifty day simple moving average is $41.34 and its 200 day simple moving average is $44.25. ConocoPhillips has a twelve month low of $20.84 and a twelve month high of $67.13. The company has a quick ratio of 2.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.47.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 30th. The energy producer reported ($0.92) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.34). ConocoPhillips had a net margin of 8.49% and a return on equity of 3.72%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the firm posted $1.01 EPS. On average, analysts expect that ConocoPhillips will post -0.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Friday, July 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 46.80%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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 conventional and unconventional exploration prospects.

Further Reading: Cash Asset Ratio

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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