Sterling Investment Management LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,866 shares of the energy producer’s stock, valued at approximately $609,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Frazier Financial Advisors LLC increased its stake in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $25,000. Ballast Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at about $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at about $36,000. Finally, Allied Private Wealth LLC purchased a new position in shares of ConocoPhillips during the second quarter worth about $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at ConocoPhillips
In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.
ConocoPhillips Trading Up 3.3%
NYSE COP opened at $146.43 on Friday. The stock’s 50-day simple moving average is $132.11 and its two-hundred day simple moving average is $122.44. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $146.59. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $175.92 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.45 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 (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The company’s revenue was up 32.4% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 11.19 EPS for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Seaport Research Partners assumed coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Raymond James Financial reaffirmed an “underperform” rating and issued a $168.00 target price on shares of ConocoPhillips in a research note on Monday, August 24th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Mizuho cut their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Argus boosted their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $143.62.
View Our Latest Analysis on ConocoPhillips
ConocoPhillips Company Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.
The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.
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