Cim Investment Management Inc. Boosts Holdings in ConocoPhillips $COP

Cim Investment Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 129.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,291 shares of the energy producer’s stock after buying an additional 6,380 shares during the period. Cim Investment Management Inc.’s holdings in ConocoPhillips were worth $1,174,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC raised its holdings in ConocoPhillips by 151.0% in the 1st 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. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $25,000. Ballast Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $36,000. Finally, Allied Private Wealth LLC acquired a new position in shares of ConocoPhillips in the second quarter valued at $32,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays reduced their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Mizuho dropped their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. UBS Group raised their price objective on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Susquehanna lifted their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $141.24.

ConocoPhillips Price Performance

COP stock traded down $0.63 during trading on Tuesday, hitting $125.41. The company had a trading volume of 7,276,273 shares, compared to its average volume of 8,223,630. The company has a fifty day moving average price of $127.73 and a two-hundred day moving average price of $121.64. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $141.62. The company has a market cap of $150.66 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.34 and a beta of 0.13. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 earnings per share. Equities research analysts expect that ConocoPhillips will post 10.54 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated 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 transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.