Brookstone Capital Management Has $1.34 Million Stake in ConocoPhillips (NYSE:COP)

Brookstone Capital Management raised its position in ConocoPhillips (NYSE:COP - Free Report) by 43.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,714 shares of the energy producer's stock after purchasing an additional 3,859 shares during the period. Brookstone Capital Management's holdings in ConocoPhillips were worth $1,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $321,000. Huntleigh Advisors Inc. increased its position in ConocoPhillips by 160.4% during the 1st quarter. Huntleigh Advisors Inc. now owns 37,871 shares of the energy producer's stock worth $3,977,000 after purchasing an additional 23,329 shares in the last quarter. IFM Investors Pty Ltd increased its position in ConocoPhillips by 1.8% during the 1st quarter. IFM Investors Pty Ltd now owns 247,562 shares of the energy producer's stock worth $26,063,000 after purchasing an additional 4,300 shares in the last quarter. Silver Oak Securities Incorporated increased its position in ConocoPhillips by 28.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 2,676 shares of the energy producer's stock worth $274,000 after purchasing an additional 591 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its position in ConocoPhillips by 10.6% during the 1st quarter. Calamos Wealth Management LLC now owns 2,272 shares of the energy producer's stock worth $239,000 after purchasing an additional 218 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Susquehanna cut their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. UBS Group dropped their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler boosted their price objective on ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Bank of America cut their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.80.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $3.16 during trading hours on Tuesday, reaching $95.71. The stock had a trading volume of 12,810,781 shares, compared to its average volume of 8,579,198. The business's fifty day moving average is $90.22 and its two-hundred day moving average is $94.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a market cap of $120.99 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.53 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

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.