Ameritas Advisory Services LLC Purchases 14,741 Shares of ConocoPhillips $COP

Key Points

• Ameritas Advisory Services increased its ConocoPhillips position by 196.8% in the second quarter, acquiring 14,741 additional shares worth approximately $2.31 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips exceeded quarterly earnings and revenue expectations, reporting $3.24 in EPS on $19.52 billion in revenue, with revenue up 32.4% year over year. The company also pays a quarterly dividend of $0.84, equivalent to a 2.5% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $140.29, although an executive recently sold 9,487 shares at an average price of $135.15.

Ameritas Advisory Services LLC increased its position in ConocoPhillips (NYSE:COP - Free Report) by 196.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,232 shares of the energy producer's stock after acquiring an additional 14,741 shares during the period. Ameritas Advisory Services LLC's holdings in ConocoPhillips were worth $2,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital raised its stake in ConocoPhillips by 11.6% during the 2nd quarter. Wedmont Private Capital now owns 19,508 shares of the energy producer's stock worth $2,127,000 after acquiring an additional 2,035 shares during the period. Kintra Wealth LLC lifted its stake in ConocoPhillips by 88.5% in the 2nd quarter. Kintra Wealth LLC now owns 2,880 shares of the energy producer's stock worth $299,000 after purchasing an additional 1,352 shares in the last quarter. Guardian Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 3.9% during the 2nd quarter. Guardian Wealth Management Inc. now owns 33,994 shares of the energy producer's stock valued at $3,534,000 after purchasing an additional 1,287 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 6.7% during the 2nd quarter. HB Wealth Management LLC now owns 63,925 shares of the energy producer's stock valued at $6,646,000 after purchasing an additional 3,986 shares during the last quarter. Finally, Nilsine Partners LLC grew its position in shares of ConocoPhillips by 14.1% during the second quarter. Nilsine Partners LLC now owns 5,347 shares of the energy producer's stock valued at $556,000 after purchasing an additional 662 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP opened at $135.08 on Wednesday. The business has a fifty day moving average of $121.37 and a 200 day moving average of $119.84. The stock has a market cap of $162.28 billion, a P/E ratio of 17.87, a PEG ratio of 1.41 and a beta of 0.13. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $137.53.

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, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The business's revenue was up 32.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus raised their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Freedom Capital upgraded ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Capital One Financial lowered their target price on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a research report on Monday, May 18th. Roth Capital upgraded shares of ConocoPhillips from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Finally, Wall Street Zen upgraded ConocoPhillips from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $140.29.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was 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 of the company's stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company's stock.

About ConocoPhillips

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.

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