Ayrshire Capital Management LLC Buys 391 Shares of ConocoPhillips (NYSE:COP)

Ayrshire Capital Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,165 shares of the energy producer’s stock after acquiring an additional 391 shares during the period. Ayrshire Capital Management LLC’s holdings in ConocoPhillips were worth $649,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. Ruedi Wealth Management Inc. increased its position in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its position in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 1.2 %

Shares of NYSE COP opened at $110.49 on Friday. The firm has a market capitalization of $128.31 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.88 and a beta of 1.21. The business has a 50-day moving average of $109.06 and a 200-day moving average of $115.55. 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 $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued 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 business had revenue of $14.14 billion during 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%. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COP shares. Barclays lowered their price objective on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday. Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research note on Friday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.12.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the 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 completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.