ConocoPhillips $COP Shares Acquired by GKV Capital Management Co. Inc.

Key Points

• GKV Capital Management Co. Inc. increased its holdings in ConocoPhillips by 39.5% during the first quarter, bringing its total to 9,950 shares valued at approximately $1,045,000.
• ConocoPhillips recently reported earnings per share (EPS) of $1.42 for the last quarter, surpassing the consensus estimate of $1.36, alongside a revenue of $14.94 billion.
• The company announced a quarterly dividend of $0.78 per share, which will be paid on September 2nd, resulting in an annualized yield of 3.2%.

GKV Capital Management Co. Inc. grew its position in ConocoPhillips (NYSE:COP - Free Report) by 39.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,950 shares of the energy producer's stock after acquiring an additional 2,815 shares during the period. GKV Capital Management Co. Inc.'s holdings in ConocoPhillips were worth $1,045,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. 10Elms LLP acquired a new position in shares of ConocoPhillips in the fourth quarter worth about $28,000. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $37,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price for the company. Scotiabank boosted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Citigroup cut their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Mizuho cut their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley reissued an "overweight" rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Stock Up 0.6%

Shares of NYSE COP opened at $98.52 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The stock has a market cap of $123.05 billion, a PE ratio of 13.22, a P/E/G ratio of 2.56 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $94.07 and a 200 day moving average of $93.24.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (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 company had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 41.88%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company's stock.

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.

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