Aptus Capital Advisors LLC Sells 13,661 Shares of ConocoPhillips $COP

Key Points

• Aptus Capital Advisors LLC reduced its position in ConocoPhillips by 32.9%, holding 27,891 shares valued at $2.93 million after selling 13,661 shares in the first quarter.
• ConocoPhillips reported earnings of $1.42 EPS for the last quarter, surpassing analysts' expectations and reflecting a 4.3% increase in revenue compared to the same period last year.
• The firm declared a quarterly dividend of $0.78 per share, representing a 3.3% yield, with the payment date set for September 2nd.

Aptus Capital Advisors LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,891 shares of the energy producer's stock after selling 13,661 shares during the quarter. Aptus Capital Advisors LLC's holdings in ConocoPhillips were worth $2,929,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC increased its position in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. raised its holdings in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after buying an additional 30,000 shares in the last quarter. Aberdeen Group plc lifted its position in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after buying an additional 264,726 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its position in shares of ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP traded up $1.8440 during mid-day trading on Friday, hitting $96.6240. The company's stock had a trading volume of 6,338,392 shares, compared to its average volume of 6,789,525. The stock's 50-day moving average is $93.80 and its two-hundred day moving average is $93.23. The firm has a market capitalization of $120.68 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.53 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips's dividend payout ratio is currently 41.88%.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on COP shares. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Piper Sandler increased their price target on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen lowered shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Roth Capital reaffirmed a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a report on Thursday, August 7th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.95.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.