Mesirow Financial Investment Management Inc. Purchases 2,618 Shares of ConocoPhillips $COP

Mesirow Financial Investment Management Inc. increased its position in shares of ConocoPhillips (NYSE:COP) by 2.3% during the 2nd quarter, Holdings Channel reports. The firm owned 115,616 shares of the energy producer’s stock after acquiring an additional 2,618 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in ConocoPhillips were worth $10,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Clear Creek Financial Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $232,000. DAVENPORT & Co LLC raised its position in shares of ConocoPhillips by 43.7% during the 1st quarter. DAVENPORT & Co LLC now owns 81,099 shares of the energy producer’s stock valued at $8,517,000 after purchasing an additional 24,658 shares during the period. Keybank National Association OH raised its position in shares of ConocoPhillips by 2.0% during the 1st quarter. Keybank National Association OH now owns 317,068 shares of the energy producer’s stock valued at $33,298,000 after purchasing an additional 6,096 shares during the period. Pinnacle Financial Partners Inc raised its position in shares of ConocoPhillips by 4.0% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,139 shares of the energy producer’s stock valued at $1,773,000 after purchasing an additional 654 shares during the period. Finally, Private Trust Co. NA raised its position in shares of ConocoPhillips by 5.9% during the 1st quarter. Private Trust Co. NA now owns 9,401 shares of the energy producer’s stock valued at $987,000 after purchasing an additional 527 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COP shares. Mizuho decreased their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. The Goldman Sachs Group reduced their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Wolfe Research reduced their price target on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.63.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $88.11 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The stock has a market capitalization of $110.04 billion, a P/E ratio of 11.83, a PEG ratio of 2.36 and a beta of 0.62. The firm has a fifty day simple moving average of $92.81 and a two-hundred day simple moving average of $91.97. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the company posted $1.98 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

ConocoPhillips 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, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.