Journey Retirement Planning & Investment Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 72.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,225 shares of the energy producer’s stock after buying an additional 5,574 shares during the period. ConocoPhillips makes up 1.1% of Journey Retirement Planning & Investment Management LLC’s portfolio, making the stock its 15th biggest position. Journey Retirement Planning & Investment Management LLC’s holdings in ConocoPhillips were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. BOS Asset Management LLC boosted its stake in ConocoPhillips by 76.9% during the 3rd quarter. BOS Asset Management LLC now owns 3,510 shares of the energy producer’s stock valued at $439,000 after purchasing an additional 1,526 shares in the last quarter. Lawood & Co. raised its stake in shares of ConocoPhillips by 246.1% in the 3rd quarter. Lawood & Co. now owns 21,007 shares of the energy producer’s stock worth $2,629,000 after buying an additional 14,937 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of ConocoPhillips by 28,233.6% in the third quarter. Douglas Lane & Associates LLC now owns 833,857 shares of the energy producer’s stock valued at $104,357,000 after buying an additional 830,914 shares during the period. Dakota Community Bank & Trust NA boosted its stake in ConocoPhillips by 259.8% during the third quarter. Dakota Community Bank & Trust NA now owns 2,803 shares of the energy producer’s stock valued at $351,000 after buying an additional 2,024 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc grew its holdings in ConocoPhillips by 216.6% during the third quarter. Hummer Financial Advisory Services Inc now owns 9,347 shares of the energy producer’s stock worth $1,170,000 after acquiring an additional 6,395 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have commented on COP. Barclays dropped their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a “hold” rating and a $148.00 target price for the company. Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.29.
ConocoPhillips Trading Up 0.3%
ConocoPhillips stock traded up $0.40 during midday trading on Friday, reaching $134.59. The stock had a trading volume of 1,744,522 shares, compared to its average volume of 8,101,435. The firm’s fifty day simple moving average is $129.39 and its two-hundred day simple moving average is $121.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. The firm has a market cap of $161.69 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.35 and a beta of 0.24.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.ConocoPhillips’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Equities analysts anticipate that ConocoPhillips will post 10.68 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.
Insider Buying and Selling at ConocoPhillips
In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.
ConocoPhillips Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.
The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.
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