Ashton Thomas Private Wealth LLC Has $3.92 Million Stock Holdings in ConocoPhillips $COP

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in ConocoPhillips by 17.7% during Q1, raising their holdings to 37,361 shares worth approximately $3.9 million.
• ConocoPhillips recently raised its quarterly dividend to $0.78 per share, yielding about 3.4%, reflecting a payout ratio of 41.88%.
• Analysts have mixed ratings on the stock; while Scotiabank increased its price target to $100.00, Wall Street Zen downgraded it from "hold" to "sell," indicating a divergence in market outlook.

Ashton Thomas Private Wealth LLC boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,361 shares of the energy producer's stock after purchasing an additional 5,627 shares during the period. Ashton Thomas Private Wealth LLC's holdings in ConocoPhillips were worth $3,924,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Kestra Investment Management LLC lifted its holdings in ConocoPhillips by 11.8% during the 1st quarter. Kestra Investment Management LLC now owns 4,616 shares of the energy producer's stock worth $456,000 after purchasing an additional 488 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in ConocoPhillips by 55.2% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,009 shares of the energy producer's stock worth $106,000 after purchasing an additional 359 shares during the last quarter. Talon Private Wealth LLC lifted its holdings in ConocoPhillips by 1,121.7% during the 1st quarter. Talon Private Wealth LLC now owns 2,590 shares of the energy producer's stock worth $272,000 after purchasing an additional 2,378 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in ConocoPhillips by 5.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 84,958 shares of the energy producer's stock worth $8,922,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Richwood Investment Advisors LLC increased its stake in ConocoPhillips by 4.1% during the 1st quarter. Richwood Investment Advisors LLC now owns 5,349 shares of the energy producer's stock worth $562,000 after acquiring an additional 213 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank raised their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Morgan Stanley restated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. UBS Group raised their price objective on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.86.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $1.53 during mid-day trading on Friday, hitting $92.60. 5,169,385 shares of the stock traded hands, compared to its average volume of 7,941,503. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market cap of $115.65 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69. The firm has a 50 day simple moving average of $94.78 and a two-hundred day simple moving average of $93.01.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips's payout ratio is presently 41.88%.

Insider Buying and Selling

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

ConocoPhillips Company 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.