MCF Advisors LLC Has $137,000 Stock Position in ConocoPhillips (NYSE:COP)

MCF Advisors LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 375.9% in the second quarter, Holdings Channel reports. The institutional investor owned 2,251 shares of the energy producer’s stock after acquiring an additional 1,778 shares during the period. MCF Advisors LLC’s holdings in ConocoPhillips were worth $137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. lifted its position in shares of ConocoPhillips by 3.5% during the second quarter. Lee Danner & Bass Inc. now owns 5,481 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 185 shares in the last quarter. Concord Wealth Partners lifted its position in shares of ConocoPhillips by 41.0% during the first quarter. Concord Wealth Partners now owns 640 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 186 shares in the last quarter. Allegheny Financial Group LTD lifted its position in shares of ConocoPhillips by 3.6% during the second quarter. Allegheny Financial Group LTD now owns 5,460 shares of the energy producer’s stock valued at $333,000 after purchasing an additional 189 shares in the last quarter. Avantax Planning Partners Inc. lifted its position in shares of ConocoPhillips by 2.6% during the second quarter. Avantax Planning Partners Inc. now owns 7,683 shares of the energy producer’s stock valued at $468,000 after purchasing an additional 196 shares in the last quarter. Finally, Grandview Asset Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 78.47% of the company’s stock.

COP stock opened at $56.94 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.97. ConocoPhillips has a one year low of $27.53 and a one year high of $63.57. The stock has a market cap of $76.25 billion, a PE ratio of 49.09, a P/E/G ratio of 1.56 and a beta of 1.77. The firm has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $55.98.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.17. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. The company had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the company earned ($0.92) EPS. On average, research analysts expect that ConocoPhillips will post 4.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, July 26th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, July 23rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is -177.32%.

In other news, Director R A. Walker purchased 18,000 shares of the stock in a transaction that occurred on Monday, August 9th. The stock was bought at an average cost of $55.50 per share, for a total transaction of $999,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jody Freeman sold 3,334 shares of the company’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $59.65, for a total transaction of $198,873.10. Following the sale, the director now owns 8,251 shares of the company’s stock, valued at $492,172.15. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Several analysts have commented on COP shares. Evercore ISI lifted their price objective on shares of ConocoPhillips from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, June 28th. TheStreet raised shares of ConocoPhillips from a “c” rating to a “b” rating in a research report on Tuesday, August 3rd. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, August 23rd. lifted their price objective on shares of ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of ConocoPhillips from $63.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 21st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $70.81.

ConocoPhillips Company Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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