ConocoPhillips $COP Stock: Trek Financial LLC Boosts Holdings

Trek Financial LLC grew its stake in ConocoPhillips (NYSE:COP) by 37.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,669 shares of the energy producer’s stock after purchasing an additional 6,972 shares during the quarter. Trek Financial LLC’s holdings in ConocoPhillips were worth $3,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Carolina Wealth Advisors LLC bought a new stake in ConocoPhillips during the third quarter worth about $28,000. Frazier Financial Advisors LLC grew its stake in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC bought a new position in ConocoPhillips in the second quarter valued at approximately $32,000. William Mack & Associates Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $34,000. Finally, Evergreen Advisors LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were 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 approximately $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on ConocoPhillips in a report on Thursday, September 10th. They issued a “hold” rating and a $148.00 price objective for the company. Seaport Research Partners started coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Mizuho dropped their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. William Blair started coverage on shares of ConocoPhillips in a research report on Wednesday, October 28th. They set a “market perform” rating on the stock. Finally, Susquehanna increased their price target on shares of ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.08.

ConocoPhillips Stock Down 4.7%

COP stock opened at $146.76 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $176.30 billion, a PE ratio of 19.41, a PEG ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $154.28. The business’s 50 day simple moving average is $136.37 and its 200 day simple moving average is $121.30.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during 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%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. As a group, research analysts anticipate that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. ConocoPhillips’s payout ratio is presently 44.44%.

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.