8,089 Shares in ConocoPhillips $COP Acquired by Van Hulzen Asset Management LLC

Key Points

• Van Hulzen Asset Management initiated a ConocoPhillips stake of 8,089 shares valued at approximately $841,000. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported quarterly earnings of $3.24 per share, exceeding estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion.
• The company declared a quarterly dividend of $0.84 per share, equivalent to an annualized $3.36 dividend and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $140.29.

Van Hulzen Asset Management LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 8,089 shares of the energy producer's stock, valued at approximately $841,000.

Other large investors also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in ConocoPhillips by 10.5% in the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after buying an additional 14,833 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at about $1,169,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of ConocoPhillips during the 2nd quarter valued at about $6,896,000. Jennison Associates LLC lifted its holdings in shares of ConocoPhillips by 7.6% during the 4th quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer's stock worth $14,345,000 after acquiring an additional 10,779 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of ConocoPhillips by 4.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,608,643 shares of the energy producer's stock worth $252,256,000 after acquiring an additional 102,577 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.1%

COP opened at $133.37 on Tuesday. The firm has a 50 day moving average price of $115.73 and a 200 day moving average price of $117.97. The company has a market cap of $160.22 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.11. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate 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%. ConocoPhillips's revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. Sell-side analysts expect that ConocoPhillips will post 10.46 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips 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 transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 10th. Zacks Research downgraded shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Capital One Financial decreased their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a report on Monday, May 18th. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.29.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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