Empowered Funds LLC Has $36.67 Million Stock Position in ConocoPhillips $COP

Key Points

• Empowered Funds LLC increased its stake in ConocoPhillips (COP) by 5.7%, owning 349,191 shares worth approximately $36.67 million at the end of the first quarter.
• The company recently reported $1.42 EPS for the latest quarter, exceeding analysts' expectations of $1.36 EPS, with a revenue of $14.94 billion.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.4% and a payout ratio of 41.88%.

Empowered Funds LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 349,191 shares of the energy producer's stock after buying an additional 18,762 shares during the quarter. ConocoPhillips makes up about 0.5% of Empowered Funds LLC's investment portfolio, making the stock its 20th largest holding. Empowered Funds LLC's holdings in ConocoPhillips were worth $36,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triumph Capital Management grew its holdings in ConocoPhillips by 6.7% in the 4th quarter. Triumph Capital Management now owns 2,364 shares of the energy producer's stock valued at $234,000 after buying an additional 149 shares during the last quarter. Ethic Inc. increased its holdings in shares of ConocoPhillips by 208.4% during the 4th quarter. Ethic Inc. now owns 19,035 shares of the energy producer's stock worth $1,888,000 after purchasing an additional 12,862 shares during the period. Focus Partners Wealth increased its holdings in shares of ConocoPhillips by 29.5% during the 4th quarter. Focus Partners Wealth now owns 94,406 shares of the energy producer's stock worth $9,362,000 after purchasing an additional 21,505 shares during the period. Janus Henderson Group PLC raised its position in shares of ConocoPhillips by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 3,785,715 shares of the energy producer's stock valued at $375,429,000 after buying an additional 248,283 shares during the last quarter. Finally, Lionshead Wealth Management LLC bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $226,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were purchased 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 in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COP shares. Roth Capital reaffirmed a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research note on Friday, July 11th. Bank of America dropped their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Piper Sandler upped their price objective on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, UBS Group increased their price objective on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $120.86.

ConocoPhillips Price Performance

NYSE:COP traded down $1.53 during mid-day trading on Friday, reaching $92.60. 5,169,385 shares of the company were exchanged, compared to its average volume of 7,941,503. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $115.65 billion, a PE ratio of 12.43, a PEG ratio of 2.48 and a beta of 0.69. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a fifty day moving average of $94.78 and a 200 day moving average of $93.01.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business posted $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. ConocoPhillips's payout ratio is presently 41.88%.

ConocoPhillips Company 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.