Allworth Financial LP Buys Shares of 48,542 ConocoPhillips $COP

Key Points

• Allworth Financial initiated a position of 48,542 ConocoPhillips shares valued at approximately $5.05 million during the second quarter. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported quarterly EPS of $3.24, beating estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion. The company also maintained its $0.84 quarterly dividend, equivalent to a 2.5% yield.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $139.21 price target, although valuation concerns and recent insider selling present risks as the stock trades near its 52-week high.

Allworth Financial LP bought a new position in ConocoPhillips (NYSE:COP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 48,542 shares of the energy producer's stock, valued at approximately $5,046,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AXA S.A. increased its stake in ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock valued at $70,397,000 after buying an additional 44,852 shares during the period. BNP Paribas bought a new stake in shares of ConocoPhillips during the second quarter worth $33,000. Osterweis Capital Management Inc. bought a new stake in shares of ConocoPhillips during the second quarter worth $151,000. Finally, Main Street Financial Solutions LLC lifted its position in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock valued at $431,000 after acquiring an additional 1,675 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COP. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Raymond James Financial reduced their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a report on Monday, June 1st. Susquehanna increased their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a "positive" rating in a report on Tuesday, August 11th. Finally, Mizuho reduced their price objective on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.21.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $135.00 on Friday. The firm has a market cap of $162.18 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock's fifty day moving average price is $114.92 and its two-hundred day moving average price is $117.53. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last released its 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 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 revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. As a group, research analysts expect that ConocoPhillips will post 10.06 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a 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%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
• Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
• Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
• Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
• Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
• Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
• Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.

About ConocoPhillips

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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