Caitong International Asset Management Co. Ltd Buys 1,493 Shares of ConocoPhillips $COP

Caitong International Asset Management Co. Ltd increased its stake in shares of ConocoPhillips (NYSE:COP) by 4,035.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,530 shares of the energy producer’s stock after purchasing an additional 1,493 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in ConocoPhillips were worth $137,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bogart Wealth LLC increased its position in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management increased its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC increased its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on COP. Roth Capital cut their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. UBS Group cut their price objective on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Morgan Stanley cut their price objective on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Finally, Susquehanna cut their price objective on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Price Performance

Shares of COP stock opened at $88.01 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.40 and a beta of 0.62. The stock has a fifty day simple moving average of $93.32 and a two-hundred day simple moving average of $91.92. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

ConocoPhillips Company 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.