Ausdal Financial Partners Inc. Invests $1.64 Million in ConocoPhillips $COP

Key Points

• Ausdal Financial Partners acquired 15,731 ConocoPhillips shares worth approximately $1.64 million during the second quarter. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $140.29. ConocoPhillips also exceeded quarterly expectations, reporting $3.24 in EPS and $19.52 billion in revenue, up 32.4% year over year.
• ConocoPhillips announced a quarterly dividend of $0.84 per share, equivalent to a $3.36 annualized payout and a 2.6% yield. Separately, SVP Andrew D. Lundquist sold 9,487 shares at an average price of $135.15.

Ausdal Financial Partners Inc. acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,731 shares of the energy producer's stock, valued at approximately $1,635,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frazier Financial Advisors LLC lifted its position in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the 4th quarter worth about $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips in the 1st quarter worth about $36,000. Evergreen Advisors LLC bought a new stake in ConocoPhillips in the 1st quarter valued at about $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips in the 2nd quarter valued at about $32,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Mizuho cut their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Jefferies Financial Group raised their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Finally, Barclays reduced their price objective on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.29.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Trading Down 0.8%

Shares of COP opened at $130.79 on Thursday. The business's 50-day moving average price is $116.53 and its 200-day moving average price is $118.32. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.88. The stock has a market cap of $157.12 billion, a PE ratio of 17.30, a P/E/G ratio of 1.39 and a beta of 0.11. 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 (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the prior year, the firm posted $1.42 earnings per share. The company's revenue for the quarter was up 32.4% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 10.55 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 paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.6%. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips Profile

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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