ConocoPhillips $COP Shares Acquired by Austin Private Wealth LLC

Austin Private Wealth LLC increased its position in ConocoPhillips (NYSE:COP) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,760 shares of the energy producer’s stock after acquiring an additional 688 shares during the period. Austin Private Wealth LLC’s holdings in ConocoPhillips were worth $876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. New York Life Investment Management LLC grew its position in ConocoPhillips by 0.6% in the 2nd quarter. New York Life Investment Management LLC now owns 171,566 shares of the energy producer’s stock valued at $15,396,000 after buying an additional 1,072 shares in the last quarter. Howard Capital Management Inc. grew its position in ConocoPhillips by 59.3% in the 2nd quarter. Howard Capital Management Inc. now owns 14,076 shares of the energy producer’s stock valued at $1,263,000 after buying an additional 5,240 shares in the last quarter. First National Trust Co grew its position in ConocoPhillips by 1.2% in the 2nd quarter. First National Trust Co now owns 58,113 shares of the energy producer’s stock valued at $5,215,000 after buying an additional 670 shares in the last quarter. Signet Investment Advisory Group Inc. grew its position in ConocoPhillips by 1.5% in the 2nd quarter. Signet Investment Advisory Group Inc. now owns 23,243 shares of the energy producer’s stock valued at $2,086,000 after buying an additional 353 shares in the last quarter. Finally, May Hill Capital LLC grew its position in ConocoPhillips by 8.6% in the 2nd quarter. May Hill Capital LLC now owns 3,046 shares of the energy producer’s stock valued at $273,000 after buying an additional 242 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.86 on Wednesday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $93.08 and a 200-day moving average of $91.99. The firm has a market cap of $108.49 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted 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 net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Piper Sandler decreased their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Melius Research started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.