1,816,143 Shares in ConocoPhillips $COP Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,816,143 shares of the energy producer’s stock, valued at approximately $188,807,000. The Manufacturers Life Insurance Company owned 0.15% of ConocoPhillips as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COP. AXA S.A. raised its stake in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after acquiring an additional 40,499 shares during the last quarter. Sei Investments Co. grew its stake in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the last quarter. BNP Paribas bought a new stake in shares of ConocoPhillips in the second quarter worth about $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips during the 2nd quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC increased its holdings in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research note on Monday, June 22nd. Capital One Financial decreased their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Susquehanna boosted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Insider Buying and Selling

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

ConocoPhillips Trading Down 1.1%

NYSE:COP opened at $133.37 on Tuesday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.88. 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 company’s 50-day simple moving average is $115.73 and its 200 day simple moving average is $117.97. The firm has a market capitalization of $160.22 billion, a P/E ratio of 17.64, a PEG ratio of 1.43 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 10.46 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

About ConocoPhillips

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.