ConocoPhillips (NYSE:COP) Shares Bought by Wambolt & Associates LLC

Wambolt & Associates LLC grew its position in ConocoPhillips (NYSE:COP) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,557 shares of the energy producer’s stock after buying an additional 890 shares during the period. Wambolt & Associates LLC’s holdings in ConocoPhillips were worth $3,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $27,000. Sachetta LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $27,000. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter valued at about $31,000. Cape Investment Advisory Inc. raised its stake in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares during the period. Finally, Ruedi Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. UBS Group raised their target price on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Scotiabank cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Performance

NYSE:COP opened at $102.56 on Thursday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market capitalization of $119.95 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The business’s fifty day moving average price is $110.58 and its 200 day moving average price is $116.82.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.42 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.26%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity

In related 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 value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.