Brookstone Capital Management Boosts Stake in ConocoPhillips $COP

Key Points

• Brookstone Capital Management boosted its ConocoPhillips stake by 131.1% in the first quarter, ending with 38,169 shares valued at about $5.0 million. Institutional investors still own a large majority of the company, at 82.36%.
• Analyst sentiment remains generally positive, with ConocoPhillips holding a Moderate Buy consensus and an average price target of $134.32. Several firms recently adjusted ratings, including Morgan Stanley raising its target to $153.
• ConocoPhillips recently reported better-than-expected quarterly earnings of $1.89 per share and revenue of $15.76 billion, and it also paid a quarterly dividend of $0.84 per share for a 3.1% yield. However, CEO Ryan Michael Lance sold 113,221 shares in late March, and the stock has faced some pressure from weaker crude prices.

Brookstone Capital Management increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 131.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,169 shares of the energy producer's stock after acquiring an additional 21,650 shares during the period. Brookstone Capital Management's holdings in ConocoPhillips were worth $5,038,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $28,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at about $28,000. Finally, Sfam LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COP shares. Weiss Ratings reissued a "hold (c)" rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Zacks Research cut shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Freedom Capital lowered ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $134.32.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street analyst coverage turned more bullish on ConocoPhillips, with one note highlighting higher price targets and a generally favorable outlook for the stock. This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday
• Positive Sentiment: Energy stocks broadly strengthened late Monday, suggesting improved sector sentiment that can support ConocoPhillips along with peers. Sector Update: Energy Stocks Rise Late Afternoon
• Positive Sentiment: Reports that ConocoPhillips is expanding its LNG reach across energy markets point to longer-term growth opportunities and diversification. Why Is ConocoPhillips NYSE: COP Expanding LNG Reach Across Energy Markets?
• Neutral Sentiment: Broader energy-market commentary continues to focus on oil-price volatility and sector concentration risks, which adds uncertainty but does not directly change ConocoPhillips’ outlook. XLE's Concentration Risk Meets Oil's Next Move: What to Monitor in June
• Negative Sentiment: One recent headline says ConocoPhillips is slipping as crude oil pressure builds, reflecting the near-term headwind from weaker oil prices. ConocoPhillips NYSE: COP Slips As Crude Oil Pressure Builds

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares of the company's stock, valued at $46,448,500. This represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $110.15 on Wednesday. The company has a market cap of $134.20 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50-day simple moving average of $118.13 and a 200-day simple moving average of $111.67.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company's revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips's payout ratio is 57.05%.

About ConocoPhillips

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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