Pin Oak Investment Advisors Inc. Acquires New Stake in ConocoPhillips $COP

Pin Oak Investment Advisors Inc. bought a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,024 shares of the energy producer’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in ConocoPhillips during the second quarter valued at about $1,260,482,000. Primecap Management Co. CA bought a new stake in ConocoPhillips in the second quarter worth about $1,204,726,000. Legal & General Group Plc bought a new stake in ConocoPhillips in the second quarter worth about $716,151,000. Jupiter Topco LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $427,954,000. Finally, Capital International Investors lifted its holdings in ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

COP opened at $130.46 on Friday. The stock has a fifty day moving average of $117.42 and a 200-day moving average of $118.56. The firm has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a PEG ratio of 1.36 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter last year, the firm posted $1.42 earnings per share. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a research note on Monday, June 22nd. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

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.