Moore Capital Management LP Invests $8.94 Million in ConocoPhillips $COP

Moore Capital Management LP purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 86,000 shares of the energy producer’s stock, valued at approximately $8,941,000.

A number of other hedge funds have also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC raised its stake in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $32,000. Finally, BNP Paribas acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1%

ConocoPhillips stock opened at $130.46 on Monday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a PEG ratio of 1.37 and a beta of 0.11. The stock has a 50-day simple moving average of $117.42 and a 200-day simple moving average of $118.63.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm 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 firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. Equities research analysts expect that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The shares were 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 owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COP shares. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. UBS Group increased their price objective on ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Argus upped their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial reiterated an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a research note on Monday, August 24th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

ConocoPhillips Profile

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.