Brighton Jones LLC Raises Position in ConocoPhillips $COP

Brighton Jones LLC raised its stake in ConocoPhillips (NYSE:COP) by 48.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,562 shares of the energy producer’s stock after purchasing an additional 6,386 shares during the quarter. Brighton Jones LLC’s holdings in ConocoPhillips were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management grew its holdings in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.01 on Monday. The stock has a fifty day simple moving average of $93.32 and a two-hundred day simple moving average of $91.98. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The firm has a market cap of $109.92 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Piper Sandler reduced their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. UBS Group reduced their target price on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a report on Monday, October 13th. Mizuho reduced their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Barclays reduced their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.63.

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.