Kimelman & Baird LLC Invests $712,000 in ConocoPhillips $COP

Kimelman & Baird LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, HoldingsChannel reports. The fund bought 6,850 shares of the energy producer’s stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COP. Patten Group Inc. raised its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares in the last quarter. IFC Advisors LLC boosted its holdings in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. increased its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after purchasing an additional 94 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. Argus boosted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Jefferies Financial Group increased their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group lifted their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Truist Financial boosted their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

ConocoPhillips Stock Up 0.7%

COP opened at $130.46 on Friday. The business has a 50 day moving average price of $117.42 and a two-hundred day moving average price of $118.56. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a market cap of $156.73 billion, a PE ratio of 17.26, a P/E/G ratio of 1.36 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.88.

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 the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company’s revenue was up 32.4% on a year-over-year basis. During the same period last year, the business posted $1.42 EPS. As a group, research analysts anticipate that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

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