ConocoPhillips $COP Stake Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 22.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,708 shares of the energy producer’s stock after acquiring an additional 45,088 shares during the period. NewEdge Advisors LLC’s holdings in ConocoPhillips were worth $25,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the fourth quarter valued at about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC raised its stake in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $32,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the 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 directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on COP. The Goldman Sachs Group dropped their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Susquehanna lifted their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. UBS Group increased their price target on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Argus increased 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

ConocoPhillips Trading Up 1.2%

ConocoPhillips stock opened at $136.69 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The business’s 50-day simple moving average is $122.04 and its 200-day simple moving average is $120.02. The firm has a market capitalization of $164.21 billion, a PE ratio of 18.08, a PEG ratio of 1.42 and a beta of 0.13. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $137.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating 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 the consensus estimate of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.