ConocoPhillips $COP Shares Acquired by Apella Capital LLC

Key Points

• Apella Capital increased its ConocoPhillips stake by 83.4% in the third quarter, bringing its holdings to 19,966 shares valued at approximately $2.5 million. Institutional investors collectively own 82.36% of COP’s outstanding stock.
• ConocoPhillips reported quarterly earnings of $3.24 per share, beating estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a $0.84 quarterly dividend, yielding about 2.5% annually.
• Analysts maintain a generally positive outlook, with COP carrying a “Moderate Buy” consensus rating and an average price target of $143.29, versus a recent share price of $134.24.

Apella Capital LLC raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 83.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,966 shares of the energy producer's stock after purchasing an additional 9,078 shares during the period. Apella Capital LLC's holdings in ConocoPhillips were worth $2,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Everhart Financial Group Inc. lifted its position in shares of ConocoPhillips by 70.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 15,405 shares of the energy producer's stock valued at $1,928,000 after acquiring an additional 6,377 shares during the period. Avidian Wealth Enterprises LLC raised its stake in ConocoPhillips by 135.7% in the third quarter. Avidian Wealth Enterprises LLC now owns 48,489 shares of the energy producer's stock valued at $6,068,000 after purchasing an additional 27,914 shares in the last quarter. Veracity Capital LLC raised its stake in ConocoPhillips by 421.1% in the third quarter. Veracity Capital LLC now owns 10,911 shares of the energy producer's stock valued at $1,366,000 after purchasing an additional 8,817 shares in the last quarter. Vista Investment Partners LLC lifted its position in ConocoPhillips by 58.9% during the third quarter. Vista Investment Partners LLC now owns 5,769 shares of the energy producer's stock worth $722,000 after purchasing an additional 2,139 shares during the period. Finally, New Covenant Trust Company N.A. lifted its position in ConocoPhillips by 29.4% during the third quarter. New Covenant Trust Company N.A. now owns 5,157 shares of the energy producer's stock worth $645,000 after purchasing an additional 1,172 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Up 3.4%

Shares of NYSE COP opened at $134.24 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $161.27 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.35 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $141.62. The stock has a 50-day moving average price of $129.39 and a two-hundred day moving average price of $121.96.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm's quarterly revenue was up 32.4% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. As a group, analysts forecast that ConocoPhillips will post 10.68 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. ConocoPhillips's dividend payout ratio is 44.44%.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Weiss Ratings raised shares of ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 29th. Freedom Capital upgraded shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They issued a "hold" rating and a $148.00 price objective on the stock. Finally, Seaport Research Partners assumed coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They set a "neutral" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $143.29.

Insider Activity at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company's stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Oil prices rose on supply concerns. Crude prices gained amid worries about Middle East shipping routes and a larger-than-expected decline in U.S. crude inventories. A stronger commodity backdrop typically supports ConocoPhillips’ realized prices, cash flow and earnings. ConocoPhillips gains as oil prices jump on supply fears
• Positive Sentiment: Zacks upgraded COP to “Strong Buy.” The upgrade reflects ConocoPhillips’ earnings-surprise history and what Zacks describes as favorable conditions for another quarterly earnings beat. The company’s latest reported quarter exceeded both earnings and revenue expectations, while full-year guidance was reaffirmed. Will ConocoPhillips Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Institutional interest provided additional support. Worth Asset Management initiated a position, while recent filings showed share additions by several large investors, including JPMorgan, BlackRock, T. Rowe Price and Charles Schwab Investment Management. Analysts tracked by Quiver Quantitative have issued buy or overweight ratings, with a reported median price target of $143.
• Positive Sentiment: Long-term LNG exposure remains a potential catalyst. ConocoPhillips agreed to purchase 1 million metric tons of LNG annually from Venture Global beginning in 2030 under a 20-year agreement. The deal expands its long-term natural-gas exposure, although the financial benefit is several years away. ConocoPhillips Could Be 11% Undervalued Following New 20 Year LNG Deal
• Neutral Sentiment: Insider activity was mixed for investors. Three insiders sold shares during the past six months, with no reported open-market purchases. These sales may raise a modest caution flag, but they do not necessarily indicate a change in the company’s operating outlook.

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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