Stratos Investment Management LLC Acquires 1,072 Shares of ConocoPhillips (NYSE:COP)

Stratos Investment Management LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,222 shares of the energy producer’s stock after buying an additional 1,072 shares during the quarter. Stratos Investment Management LLC’s holdings in ConocoPhillips were worth $2,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Consulting LLC grew its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on COP. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Sanford C. Bernstein reduced their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Susquehanna lowered their price objective on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday. Finally, Truist Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $105.64 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market cap of $122.67 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The stock has a fifty day moving average of $109.01 and a 200-day moving average of $114.90.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 7.99 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

ConocoPhillips 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.