Man Group plc Makes New $12.58 Million Investment in ConocoPhillips $COP

Man Group plc purchased a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 121,031 shares of the energy producer’s stock, valued at approximately $12,582,000.

Several other hedge funds have also made changes to their positions in the business. Invst LLC purchased a new stake in ConocoPhillips in the 2nd quarter valued at about $990,000. Councilmark Asset Management LLC acquired a new stake in shares of ConocoPhillips in the second quarter worth approximately $1,707,000. First Bancorp Inc ME purchased a new stake in ConocoPhillips in the second quarter valued at approximately $333,000. Roberts Glore & Co. Inc. IL purchased a new stake in ConocoPhillips in the second quarter valued at approximately $269,000. Finally, Jupiter Topco LLC acquired a new position in ConocoPhillips during the second quarter worth approximately $427,954,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $129.57 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88. The company has a market capitalization of $155.66 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.38 and a beta of 0.11. The business has a 50-day moving average of $116.97 and a 200-day moving average of $118.48.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The business 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. On average, equities analysts anticipate that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

Analyst Ratings Changes

COP has been the subject of several research reports. Barclays lowered their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Capital One Financial dropped their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group decreased their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

ConocoPhillips Company 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.