22,249 Shares in ConocoPhillips $COP Bought by Private Management Group Inc.

Private Management Group Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 22,249 shares of the energy producer’s stock, valued at approximately $1,997,000.

Several other institutional investors have also recently made changes to their positions in COP. Navalign LLC grew its position in ConocoPhillips by 1.1% during the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after buying an additional 108 shares during the period. Tritonpoint Wealth LLC lifted its position in ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares in the last quarter. Iowa State Bank grew its holdings in ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. Perennial Investment Advisors LLC grew its holdings in ConocoPhillips by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after purchasing an additional 112 shares during the period. Finally, First National Bank Sioux Falls increased its position in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after buying an additional 113 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna lowered their price objective on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Barclays decreased their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Finally, Jefferies Financial Group decreased their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.16.

ConocoPhillips Trading Down 0.2%

COP stock opened at $87.33 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $112.73. The business has a 50 day simple moving average of $90.47 and a two-hundred day simple moving average of $91.90. The company has a market capitalization of $107.92 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. ConocoPhillips’s payout ratio is currently 47.52%.

About ConocoPhillips

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.