6,950 Shares in ConocoPhillips $COP Bought by Rahlfs Capital LLC

Key Points

• Rahlfs Capital LLC initiated a ConocoPhillips position of 6,950 shares valued at approximately $870,000 during the third quarter. Institutional investors collectively own 82.36% of COP’s outstanding stock.
• Analysts maintain a generally positive outlook, with ConocoPhillips receiving a consensus “Moderate Buy” rating and an average price target of $145.00.
• COP shares rose 3.6% to $150.91, near their 52-week high, after the company reported quarterly earnings and revenue above estimates. ConocoPhillips also pays a quarterly dividend of $0.84 per share, yielding about 2.2% annually.

Rahlfs Capital LLC acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,950 shares of the energy producer's stock, valued at approximately $870,000.

A number of other institutional investors have also recently bought and sold shares of the company. Warwick Investment Management Inc. increased its stake in ConocoPhillips by 2.1% in the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer's stock valued at $509,000 after purchasing an additional 82 shares in the last quarter. Patten Group Inc. raised its holdings in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after purchasing an additional 83 shares during the period. IFC Advisors LLC boosted its position in shares of ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock worth $2,664,000 after purchasing an additional 84 shares in the last quarter. Kennebec Savings Bank boosted its position in shares of ConocoPhillips by 1.3% during the third quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer's stock worth $855,000 after purchasing an additional 85 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in shares of ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock worth $124,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COP. Morgan Stanley boosted their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Raymond James Financial reaffirmed an "underperform" rating and set a $168.00 price objective on shares of ConocoPhillips in a research note on Monday, August 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $157.00 target price on shares of ConocoPhillips in a report on Tuesday. Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Barclays decreased their target price on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.00.

ConocoPhillips Stock Up 3.6%

COP stock traded up $5.28 during mid-day trading on Friday, hitting $150.91. 7,243,476 shares of the company were exchanged, compared to its average volume of 5,855,207. 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 firm has a market cap of $181.30 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.45 and a beta of 0.24. The firm's 50 day simple moving average is $134.24 and its 200 day simple moving average is $123.00. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $152.77.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business's revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 11.19 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given 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 2.2%. ConocoPhillips's dividend payout ratio is currently 44.44%.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

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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