Arkadios Wealth Advisors Purchases 18,182 Shares of ConocoPhillips (NYSE:COP)

Key Points

• Arkadios Wealth Advisors increased its stake in ConocoPhillips by 81.7% during the first quarter, acquiring an additional 18,182 shares and bringing its total holdings to 40,439 shares valued at approximately $4.25 million.
• ConocoPhillips reported an earnings per share (EPS) of $2.09 for the last quarter, surpassing analysts' estimates by $0.04, with a total revenue of $16.18 billion.
• The stock currently holds a consensus rating of "Moderate Buy" with a price target of $121.33 from various analysts, with recent target adjustments reflecting a range between $106.00 and $125.00.

Arkadios Wealth Advisors boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 81.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,439 shares of the energy producer's stock after acquiring an additional 18,182 shares during the period. Arkadios Wealth Advisors' holdings in ConocoPhillips were worth $4,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 13.8% during the fourth 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 acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC grew its position in shares of ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its stake in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after purchasing an additional 30,000 shares during the period. ORG Wealth Partners LLC increased its position in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after purchasing an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. increased its holdings in shares of ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after buying an additional 54,900 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $2.59 during midday trading on Friday, hitting $92.75. 6,348,613 shares of the company's stock were exchanged, compared to its average volume of 5,417,085. The business's fifty day moving average price is $91.97 and its two-hundred day moving average price is $94.15. The company has a market cap of $117.25 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.48 and a beta of 0.67. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the previous year, the company posted $2.05 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips's payout ratio is presently 39.64%.

Analyst Ratings Changes

Several research firms have weighed in on COP. Wells Fargo & Company reiterated an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Morgan Stanley reissued an "overweight" rating and set a $119.00 price objective on shares of ConocoPhillips in a research note on Tuesday, July 15th. Susquehanna lowered their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, Piper Sandler reissued an "overweight" rating and issued a $123.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

About ConocoPhillips

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.