Fairfield Financial Advisors LTD Invests $141,000 in ConocoPhillips (NYSE:COP)

Fairfield Financial Advisors LTD acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,235 shares of the energy producer’s stock, valued at approximately $141,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd raised its position in shares of ConocoPhillips by 98.3% during the 2nd quarter. Plato Investment Management Ltd now owns 22,485 shares of the energy producer’s stock valued at $2,572,000 after purchasing an additional 11,145 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in ConocoPhillips by 2.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after acquiring an additional 109,885 shares during the period. Lyell Wealth Management LP boosted its stake in shares of ConocoPhillips by 3.1% in the second quarter. Lyell Wealth Management LP now owns 52,866 shares of the energy producer’s stock worth $6,047,000 after acquiring an additional 1,608 shares during the period. Guardian Wealth Management Inc. grew its position in shares of ConocoPhillips by 13.3% during the second quarter. Guardian Wealth Management Inc. now owns 28,226 shares of the energy producer’s stock worth $3,228,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Prosperity Consulting Group LLC raised its stake in ConocoPhillips by 2.6% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,774 shares of the energy producer’s stock valued at $775,000 after purchasing an additional 171 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.6 %

Shares of NYSE COP opened at $103.50 on Monday. The business’s 50 day moving average price is $110.16 and its 200-day moving average price is $116.73. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $121.05 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.24%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analysts Set New Price Targets

Several research firms have recently commented on COP. Susquehanna lowered their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Mizuho dropped their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.