22,424 Shares in ConocoPhillips (NYSE:COP) Bought by Kerusso Capital Management LLC

Kerusso Capital Management LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,424 shares of the energy producer’s stock, valued at approximately $2,565,000. ConocoPhillips accounts for approximately 1.9% of Kerusso Capital Management LLC’s holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after purchasing an additional 108,956 shares during the last quarter. Capital International Investors grew its stake in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after buying an additional 826,529 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after buying an additional 270,859 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on COP shares. Mizuho cut their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. UBS Group upped their price objective on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Sanford C. Bernstein decreased their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Royal Bank of Canada increased their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Price Performance

COP stock opened at $106.02 on Friday. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.85 and a beta of 1.22. The firm’s 50-day moving average price is $111.20 and its two-hundred day moving average price is $117.00. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.5 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.