Brookstone Capital Management Has $2.23 Million Position in ConocoPhillips $COP

Key Points

• Brokestone Capital Management increased its stake in ConocoPhillips by 95.5% to own 24,851 shares, now valued at $2.23 million.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, exceeding expectations, and achieved revenues of $14.94 billion, a 4.3% year-over-year increase.
• The company recently declared a quarterly dividend of $0.78 per share, representing a 3.5% dividend yield with a payout ratio of 41.88%.

Brookstone Capital Management grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 95.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,851 shares of the energy producer's stock after buying an additional 12,137 shares during the period. Brookstone Capital Management's holdings in ConocoPhillips were worth $2,230,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. raised its position in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares in the last quarter. Aberdeen Group plc raised its position in ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after purchasing an additional 264,726 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in ConocoPhillips by 17.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer's stock worth $13,927,000 after purchasing an additional 22,827 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer's stock worth $3,924,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Lynx Investment Advisory raised its position in ConocoPhillips by 316.6% in the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer's stock worth $1,131,000 after purchasing an additional 8,184 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP opened at $88.01 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company's 50 day simple moving average is $93.32 and its 200-day simple moving average is $91.92. The stock has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Roth Capital dropped their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, October 15th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They set an "equal weight" rating and a $100.00 price objective on the stock. UBS Group decreased their price objective on shares of ConocoPhillips from $124.00 to $122.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Royal Bank Of Canada upped their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Finally, Morgan Stanley decreased their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 14th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $115.63.

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.

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